UK: Cabot Mews Ltd has acquired two central Bristol apartment blocks for in excess of £6 million.
The company, which also owns the adjacent Cabot Mews serviced apartment scheme, plans to refurbish the blocks to provide “high quality contemporary serviced and rental apartments”.
Alder King negotiated the sale of Perrett House and Redcross Mews on Old Market on behalf of Bristol Charities. The two blocks, which combined provide 38 purpose-built apartments, received 16 offers, 15 of which were in excess of the guide price, sparking three rounds of extremely competitive bidding.
Perrett House comprises 30 one-bedroom flats, one two-bedroom flat and one two bedroom maisonette, while Redcross Mews comprises eight one-bedroom flats.
Ben St Quintin, associate in Alder King’s development team, said: “After several years of strong price growth in the city centre market, demand is now rippling outwards and we’re seeing very strong interest in opportunities on the fringe of the central area.
Anne Anketell, chief executive of Bristol Charities, added: “The sale of these two apartment blocks will give a significant boost to our plans to invest in excellent quality, purpose-built accommodation for older people in Bristol.”</p
