Office Investment in Clifton

Acting on behalf of a Newcore Capital Management, Hartnell Taylor Cook LLP have advised on the
freehold purchase of Oakfield House, Oakfield Grove, Clifton, Bristol for a total consideration of
£7.08m from a private vendor, who were represented by JLL.

The property is located in Clifton, an affluent suburb of Bristol and a primarily residential location. The
building comprises a 1960s, 35,814 sq ft link-detached office building arranged over 5 floors with an
excellent car parking ratio of 1:1,194 sq ft.

The property is single let to the University of Bristol, with an unexpired term of 3.4 years at a current
passing rent of £584,454 per annum (£16.24 psf). The acquisition price reflects a net initial yield of

The deal represents excellent value for money with the capital value equating to £198 per sq ft, being
well underpinned by residential values. As well as residential, the investment offers a number of other
potential alternative uses in the future, including student, co-living, retirement living or as a hotel.
Hartnell Taylor Cook represented Newcore Capital Management. JLL represented the vendor.

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