Our continued experience in Bristol has given us a unique insight into the city’s changing dynamics. That’s how – in 2012 – we could see in Monarch House the perfect opportunity to develop a contemporary, cost-effective space to suit the modern needs of Bristol’s small to medium-sized market.
When we bought Monarch House, it was clear that the mostly vacant building needed a good deal of refurbishment. A comprehensive and targeted marketing campaign ensured the vacant floors were pre-let, which provided funding for the thorough regeneration work we required throughout.
On completion of the refurbishment and letting the asset was refinanced. All equity has been returned to investors with an ongoing running yield of 12%, and capital appreciation has resulted in a doubling of equity for the investors.