South Korean investor acquires Bristol office for €107m

Sol Zakay’s Topland Group has sold the freehold interest in 10 Canons Way, Harbourside, Bristol, England, for €107 million ($126 million) to a South Korean investor, advised by Knight Frank Investment Management (KFIM), law firm Ashurst and Korean Asset Manager WWG.

The landmark office building, one of the largest in the city, overlooks Bristol’s Floating Harbour and was developed in 2007 for Clerical Medical Insurance. The grade A office building totals 176,611 square feet over five floors with an impressive central atrium. The property is entirety let to Scottish Widows Limited until November 2032. The property forms part of the Lloyds Banking Group’s regional hub, alongside Canon House I & II, which houses around 4,000 employees.

“This is our fourth successful transaction on behalf of our Korean clients,” said David Johnson, partner at KFIM. “The dynamic Bristol market has, we believe, good long-term performance characteristics. In addition, the in