Delancey is looking to sell a 280,717 sq ft Bristol multi-let industrial estate.
Knight Frank has been appointed to sell part of Patchway Enterprise Park opposite Cribbs Causeway in north Bristol.
The London-based real estate asset management and development company is inviting offers in excess of £33.3 million for the 19-acre site, reflecting a net initial yield of 5.50 per cent.
The sale includes nine units, which are let to six established tenants including Royal Mail, Saint Gobain and Cruickshank Motors.
The estate has a weighted average unexpired lease term of 3.07 years, providing opportunities for a re-gear in the future.
There is one vacant unit, which has recently undergone a £1 million refurbishment.
The vacant unit represents 20 per cent of the scheme’s income, although the vendor is prepared to provide a 12 month rental guarantee.
Image: Knight Frank
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