Scotsgrove, a UK private investment company, has purchased St. James Court in Bristol from Kames for £9.3 million.
The property is a prominent four-storey office building, totalling 36,415 sq ft, situated in the heart of the city centre.
The property is multi-let to established tenants including BNP Paribas Leasing Solutions Ltd., Begbies Traynor Central LLP and Greggs plc with an unexpired term of 7.6 years. There is a vacant suite on the first floor with good levels of tenant interest.
The purchase price reflects a net initial yield of 6.5% and a capital value of £255 per sq ft.
Global real estate advisor Colliers International acted for Scotsgrove while Kames was represented by Savills and ACRE.