Commercial properties at St James House and 7-11 Wilder Street in Stokes Croft, Bristol have been purchased by TCN UK for £3.3 million, which represented a net initial yield of 14.4%.
The property comprises two adjoining properties. St James House is an open plan office accommodation totalling 33,096 sq ft with 27 car parking spaces, benefiting from air conditioning, full access raised floors and a large central atrium. 7-11 Wilder Street is a warehouse premises currently used as covered car parking for 40 spaces.
Both properties are let for a further five and a quarter years to Teleperformance Limited, a customer service business which is in full occupation.
The vendor was advised by Richard Coombs, Colliers International and the buyer was represented by Michael Shears, DTZ.
Richard Pearce, Managing Director of TCN UK said: "Bristol is well placed to offer the next generation much of what they are demanding and we are delighted to increase our activities further."