Clearbell sells office assets in Bristol and Chippenham

A fund managed by Clearbell Capital has sold two office assets in Bristol and Chippenham for a combined price of £4.5m. The sales comprise the 12,534 sq ft Beta Building, located to the north of Bristol, which has been purchased by Broadshade Group for £1.6m, and Cornbrash Park in Chippenham, Wiltshire, sold to Craigard for £2.9m. The assets were part of the mixed-use Amber portfolio, which Clearbell acquired in August 2015. The portfolio at the time comprised 29 assets. It now has 12 assets. The Beta Building’s tenants include Atos, Xerox and Marie Stopes. Cornbrash Park is a 37,000 sq ft site on the Bumpers Farm Estate comprising four office buildings and three warehouses. Its tenants include Siemens and Hanover Housing. Adam James, senior asset manager at Clearbell Capital, said: “The sales in Bristol and Chippenham are proof that there is continued investor appetite from UK property companies for the smaller sub-£5m property market. “Investors are increasingly seeking grade-A office buildings in stable locations with future asset management opportunities.” Clearbell was advised by Avison Young. Broadshade Group was advised by Hartnell Taylor Cook. Craigard was advised by Knight Frank. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette