Property: Bristol retail units change hands for £5m

April 4, 2013

The freehold interest in two retail units on Bath Road, Brislington, have been sold for £5.03m by Lothbury Investment Management to Aberdeen Asset Management.

The McDonalds and Pets at Home units are opposite the Brislington Retail Park, which is owned by another of Aberdeen’s funds.

The McDonalds unit is let for a further 14.5 years and Pets at Home for a further 9.5 years.

Lothbury said the sale was a strategic decision as the asset was no longer a core holding. Lothbury had recently completed a lease re-gear on the Pets at Home unit, extending the term by five years, which increased the asset’s liquidity.

Edgerley Simpson Howe acted for Lothbury Investment Management and HP Four for Aberdeen Asset Management.


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