Bridges Sustainable Property Fund invests in Elmbridge Court
Bridges Ventures, the sustainable growth investor, has acquired a £4m office development at Elmbridge Court, Gloucester and has simultaneously sold part of the site to a third party. The site is located in a prominent position adjacent to the A40 between Cheltenham and Gloucester and comprises 25 self-contained office buildings providing 44,000 sq ft of […]
Bridges Ventures, the sustainable growth investor, has acquired a £4m office development at Elmbridge Court, Gloucester and has simultaneously sold part of the site to a third party.
The site is located in a prominent position adjacent to the A40 between Cheltenham and Gloucester and comprises 25 self-contained office buildings providing 44,000 sq ft of recently refurbished space. The majority of the estate is let with a number of vacant units already under offer to established companies.
This is the fifth investment made through the Bridges Sustainable Property Fund, a fund that invests in regeneration areas and environmentally sustainable buildings.
Bridges will be installing solar panels on the roofs of all 25 units at Elmbridge Court. This will provide both existing and new tenants with a free and sustainable source of electricity and will lower the site’s overall carbon emissions by up to 60% whilst generating extra income for the Fund’s investors via feed in tariff revenue.
Guy Bowden, Acquisitions Director at Bridges Ventures, said:
“This property is in a strong location where there is proven demand from both national and local companies for good quality, affordable space. At a capital value of only £73 per sq ft, the project offers excellent scope to generate enhanced returns by letting the vacant units and completing significant environmental improvements to the property which will benefit both occupiers and our investors.”
Bridges Ventures is a sustainable growth investor whose commercial expertise is used to deliver both financial returns and social and environmental benefits.
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For further information please contact:
Claire Aslett
Capital MSL
0207 307 5307
Notes to Editors
About Bridges Ventures
Bridges Ventures is a sustainable growth investor established in 2002 with a mission to use its commercial expertise to achieve focused social or environmental benefit, as well as attractive returns for investors. Bridges Ventures has raised five funds to date which total £187m: Venture Funds I & II, two property funds and the Bridges Social Entrepreneurs Fund.
The Bridges Venture Funds invest in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being. The Funds typically invest up to £10m at a time in ambitious, entrepreneurial businesses including early stage, growth capital and buyouts / buy ins.
Since 2002, Bridges Venture Funds have made equity investments totalling over £70m in 34 businesses.
For more information please go to www.bridgesventures.com
About Bridges Ventures Sustainable Property Fund
The Bridges Sustainable Property Fund is an entrepreneurial property fund that invests in properties in regeneration areas and environmentally sustainable buildings. It seeks to make property investments that have the potential to make strong financial returns as well as delivering social and environmental impact.
It builds upon Bridges Ventures’ track record of successful property-backed investment through its private equity funds in regeneration locations and sustainable business sectors. These include The Office, Smart Storage, The Hoxton, Credential and Whelan Refining.
The fund is managed by Simon Ringer with the assistance of an investment committee comprising John Harrison, co-founder of MWB Group plc, John Duggan, formerly CEO at Gazeley Ltd, and Philip Newborough, Michele Giddens and Rory Maw of Bridges Ventures.
Ashbridge Developments are acting as asset manager on behalf of the fund.