Newcore completes on £4.48m purchase in Bristol

Newcore Capital Management, the alternative real estate investment manager, has completed on the purchase of Carbase’s car supermarket site in Bristol. The site, located on a 3.9 acre site in Netham Road, Bristol, was acquired from Bolling Investments for £4.48m, which reflects an initial yield of 6.6%. It is let on two coterminous leases until September 2035, at a net rental income of £285,500 a year. Aston Rose advised Newcore, with Rapleys advising Bolling Investments. Further information from Matt Hunter in the Aston Rose Investment Team –