A vast data centre in north Bristol currently operated by French-headquartered IT consultancy Capgemini has been sold off for £13.1m.
Estate agency Knight Frank agreed the sale of 1120 Aztec West on behalf of Delta Properties. The property was acquired by Proximity Data Centres, one of the UK’s fastest-growing regional edge colocation data centre providers.
Aztec West is situated in the north of Bristol, near Bradley Stoke and Patchway. It is close to the M4 and M5 motorways and the Almondsbury Interchange. Capgemini is leasing the 90,000 sq ft unit until December 2024.
Steve Oades, head of Knight Frank’s Bristol commercial team, said: “Data centres of this nature are extremely rare outside of the South East and we are delighted to have represented Delta Properties in the transaction and wish Proximity continued success with the growth of their business.”
In July, a new report revealed that rent for commercial space in the South West had risen to a record level following the pandemic. Increases in office and industrial rents have been driven in the main by demand outstripping supply, according to property firm Alder King.
The largest increases were seen in Bristol, where the new headline rent for top-end city centre office stock is now £42.50 per sq ft - up 10.4% from £38.50 in 2021. The same trend can be seen in the region’s industrial sector, with a new sub-10,000 sq ft industrial unit in Greater Bristol now achieving a rent of £12 per sq ft - up 9% from £11 per sq ft six months ago.
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