Property for sale

Beaufort Office Park, Bristol BS32

Description

Beaufort Office Park, developed in the 1990s, comprises Buckingham Court, Blenheim Court and Beaufort Court, and is arranged as a terrace of eight office units, together with two semi-detached office buildings and one detached office.
Each office comprises two-storey, self-contained office accommodation arranged beneath pitched, tiled roofs, with specifications including WCs, double glazed windows, suspended ceilings and dedicated forecourt parking.
The first floor of Beaufort Court has recently completed a refurbishment program, and specification include raised floors, new ceiling tiles, carpet, floor boxes, lighting and air conditioning throughout.
Externally, the property benefits from 134 parking spaces, providing an excellent car parking ratio of 1:247 sq ft.

Location

The property is in Almondsbury, within the established North Bristol commercial corridor. The area is recognised as one of the city’s principal out-of-town business locations, benefitting from excellent motorway connectivity, a strong local labour pool and a mix of office, industrial, logistics and service-based occupiers.
Beaufort Office Park benefits from a strategic location close to the M4/M5 interchange, providing excellent regional and national connectivity. Junction 16 of the M5 is readily accessible via the Aztec West roundabout, while the A38 provides a direct route towards Bristol city centre.
The immediate surroundings of Beaufort Office Park comprise several established business parks and office developments, including The Courtyard, Almondsbury Business Centre, Woodlands Business Park and Equinox. The wider North Bristol employment area is home to a diverse range of occupiers, including TSB, rac, Equans, Qualcomm, AtkinsRéalis, Babcock, Airbus, Rolls-Royce and the Ministry of Defence, reflecting the location’s strong appeal to major corporate, engineering, technology and professional services organisations.
In addition, the property is well placed relative to the emerging Brabazon development on the former Filton Airfield, one of the South West’s largest mixed-use regeneration schemes. On completion, Brabazon is expected to deliver a new urban quarter comprising residential accommodation, student housing, commercial office and industrial space, schools, retail and leisure uses, the new Aviva Arena and enhanced transport infrastructure.
Bristol Parkway railway station is within a short drive of Beaufort Office Park and provides direct services to London Paddington and other major centres. The park is also served by local bus connections along Woodlands Lane and the surrounding road network.

Tenancy

The property is occupied by nine tenants across ten leases, with a WAULT of 2.10 years to expiry, 1.66 years to break producing a passing rent of £343,585 per annum, equating to a low average rent of £16.33 per sq ft. There are two vacant units totalling 7,455 sq ft (26%). There is a headline erv of £507,068 per annum (£17.80 per sq ft overall).