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Central Bristol office building sold for £9.3 million

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.