DTZ, part of UGL Services, a division of UGL Limited (ASX: UGL), has acquired the freehold interest in an industrial site in Bristol’s Ashton Gate, on behalf of Leeds based property investor, Bridge Estates, for £1.5m.
DTZ acquired the site for its client - with a simultaneous ten year lease agreed to Nationwide Platforms Limited, a market leader in the rental of powered aerial work platforms - for a rent of £170,000 per annum.
The site, formerly known as Cumberland House, comprises a 48,131 sq ft industrial complex within a 2.19 acre site, including a factory building, office accommodation, a stores building and a large storage yard.
DTZ secured planning consent for Bridge Estates to redevelop the site in a turnkey package for Nationwide Platforms, which included: the demolition and clearance of approximately half the buildings on site, including two 26m silo towers, extensive refurbishment of the office accommodation to provide an open plan sales office, a regional HQ and training facilities, plus the fit out of the workshop to provide service and maintenance facilities.
The site fronts Winterstoke Road, adjacent to Bristol City Football Club stadium in the Ashton Gate area of the city.
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