Former Government Office in Clifton Sells for Over £2.1 Million
A former government office building located in the prestigious Clifton Village area of Bristol has been sold to a private investor for a sum exceeding £2.1 million. The five-storey property, known as Regent House, had been under the ownership of the same landlord since the year 2001.
Transaction Details and Future Plans
The commercial property firm Hartnell Taylor Cook facilitated the sale on behalf of a long-standing client, although the specific identity of the individual or business involved was not disclosed. Following the completion of this significant deal, it is understood that the building will undergo a transformation into a modern co-working space. This new facility will be operated by Desg, a Cardiff-based company specializing in flexible workspace solutions.
Regent House spans a total of 8,535 square feet and features ground-floor retail space, open-plan offices across its four upper floors, and a dedicated car park with nine spaces. Currently, the building is fully let to four tenants, with a lease extending four years to expiry and a break clause available in 1.3 years. The property generates an annual income of £202,726.
Reflecting Market Trends and Investor Confidence
Hartnell Taylor Cook emphasized that this transaction underscores the continued investor appetite for prime Bristol assets and the ongoing shift in office space demand towards flexible working environments. James Frost, associate director of investment at the firm, commented on the rarity of such opportunities in Clifton Village.
"This transaction highlights the strength of demand for well-located office investments, offering rental growth and add value opportunity going forward," Frost stated. "The purchaser’s plans to introduce a high-quality flexible workspace offering will add to Clifton Village’s appeal and support local business growth."
Background on the Companies Involved
Desg, established in 2020, manages a growing portfolio of flexible workspace locations. Their offerings include a mix of private offices, co-working memberships, and fully serviced meeting facilities, positioning them well to capitalize on evolving workplace trends.
Legal representation for the buyer was provided by Acuity Law and Andrew Gibson of Avison Young, while the seller was represented by Hartnell Taylor Cook and the law firm Michelmores. This sale marks a notable development in Bristol's commercial property landscape, signaling confidence in the city's economic vitality and the future of flexible office spaces.
