An institutional fund of German real estate group IVG has acquired a prime office building in the UK city of Bristol for £21.9 mln (EUR 27 mln) from a fund managed by Invista Real Estate Investment Management. The asset is located at 1 George's Square, Bath Street in Bristol, with a prominent waterfront position overlooking a floating harbour. The property, comprising 6,378 m[sup]2[/sup] of Grade A office space over six floors, is let to law firm Clarke Wilmott for 20 years until 13 March 2023 at a passing rent of £1.5 mln (EUR 1.8 mln) per annum.
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