La Française Real Estate Managers (REM) has acquired two adjacent office buildings from IV Real Estate in Bristol, UK.
The company acquired Gilbert House, ca. 12,800 sq. feet , a Grade II listed Art Deco building built in 1933 and 41 Corn Street, ca. 24,000 sq. feet, built in 1964.
The recently refurbished buildings, 100% let on long leases, offer good quality office accommodations in the historic heart of Bristol and are well placed, within 15-minutes walking distance of Bristol Temple Meads Railway Station, to attract occupiers seeking good amenities, which include bicycle storage, roof terraces, new heating, generous floor to ceiling heights.
Historically the banking district of the city, Corn Street is now home to numerous restaurants and high-end hotels. The attractive setting and good level of services have made it an appealing neighbourhood for young companies to locate. The office space is fully let to a technology company operating in the e-commerce sector and the two ground floor retail units are let to leisure operators.
Peter Balfour, Head of Real Estate UK for La Française Real Estate Managers said, “There is a low level of vacancy and a limited supply of Grade A offices in the central core of Bristol. A new vibrancy is emerging with many secondary offices converted into residential property, hotels and leisure facilities. This makes it an attractive place to live and work.