BSR
BSR
  • Home
  • Distressed Businesses
    • All Distressed Businessess
    • Administrations
    • Liquidations
    • Winding Up
    • Insolvency Advice  New
  • Buy a Business
    • All Businesses for Sale
    • Find a Business for Sale
    • Raising Business Finance
    • Buyer Acquisition Service   New
    • Escrow Service   New
  • Sell a Business
    • Sell Your Business
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / EPIC sells Bath office for £5.9m as part of new strategy

EPIC sells Bath office for £5.9m as part of new strategy

Fri, 26 Nov 2021 | COMMERCIAL PROPERTY

EPIC sells Bath office for £5.9m as part of new strategy

Ediston Property Investment Company (EPIC) has announced the sale of an office building in Bath, Somerset in a deal worth £5.925 million. The net initial yield on the disposal is 5.7 per cent, in line with a valuation of the property made on September 30 2021.

The office building is Midland Bridge House, located on Bath’s Midland Bridge Road, which was initially acquired by EPIC for £4.39 million in June 2015. The property extends to approximately 18,500 sq ft of refurbished office space, set over a ground floor and three upper floors. The space is let to solicitors Royds Withy King until March 2029.

The sale represents the first disposal in EPIC’s new strategy, announced in Q3 2021, through which it is looking to offset its office-based assets and reinvest in retail warehouse assets. The company views retail warehouses as more in line with its asset management style, as well as more suited to the changes that COVID-19 has led to in retail.

Commenting on the acquisition, EPIC Investment Manager Calum Bruce said: This is the first office sale since we announced our new strategy in Q3. Progress is being made with our other office sales and we are actively looking at reinvestment opportunities. We want to acquire retail warehouse assets which are more suited to our intensive style of asset management.”

In June 2021, EPIC wrote that, since the pandemic hit “retailers have to consider not only how best to run balance their online and offline businesses, but also the costs of storage, distribution and returns. For shoppers and shop-owners alike, out-of-town retail parks provide a solution.”

“These retail parks offer retailers a wealth of attractions for owners and tenants alike. Their lease lengths tend to be good, and the flexibility of their units allows for easy upsizing and downsizing as business conditions changes. As a result, vacancy rates tend to be low.”

EPIC believes that retail parks could be set to benefit from the shift to e-commerce during the pandemic, writing that "they are perfectly placed to provide the joined-up, omnichannel experience that customers want.”

In August, the company made one of its first acquisitions under the new strategy, buying Springkerse Retail Park in Stirling for £21.85 million. Commenting at the time, Calum Bruce said: “The purchase of this asset is consistent with our recently updated investment strategy of acquiring retail warehouse parks. It is our objective to recycle capital from lower yielding assets into properties which are more suited to our intensive style of asset management, and this acquisition achieves this aim.”


One of the best ways to find properties below market price is to look at recent administrations.


Share this article



Latest Businesses for Sale

Shopfitting Specialists Providing a Complete Package
UK

Turnkey shopfitting specialists providing a complete package with services including consultation design (2D 3D visualisations and walkthroughs) procurement contract management joinery manufacture and installation of all elements. The company operate...

Asking Price: Offers Invited
Turnover: £3,500,000

Horticultural Nursery
South West, UK

The company offers a range of specialist gardening and landscaping products and services to both trade and domestic customers, with a particular focus on turf, top soil, mushroom compost, aggregates, cement and sand, and landscape waste services.

Asking Price: Offers Invited
Turnover: £501,000

LEASEHOLD


Provider of Fire Safety Solutions
UK Wide

Benefits from 40 active clients, 80% of whom provide reliable, repeat business. Has an established reputation within its sector as a professional, reliable service provider, utilising a highly experienced workforce with extensive in-house capabilitie...

Asking Price: Offers Invited
Turnover: £2,600,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Marine engineering firm to target M&A after revenue grows 21.5 per cent | BUSINESS NEWS

Marine engineering and warehousing business Shepherd Offshor...

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
27
 
Nov
 

Four shopping centres sold in £144m deal | COMMERCIAL PROPERTY

A multi-million pound deal to acquire four shopping centres,...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.