GVA, the leading property adviser, has secured a deal which will see the prestigious Academy of Gymnastics move into expanded facilities in Portishead, Bristol.
The Academy of Gymnastics was founded in 2002 by Liz Kincaid. Liz is widely known and respected for having produced many British, English and Welsh squad members to European, Commonwealth and Olympics Honours.
GVA negotiated the freehold sale on behalf of the vendor, of One Harbourmead, Harbour Road to a property investor, with The Academy of Gymnastics to be their new tenant. The property is a high profile 10,698 sq ft end of terrace business unit . The guide price was c £1m.
Byron Hammond within GVA's Industrial agency team in Bristol says, "We understand that Liz intends to convert the property, subject to obtaining suitable planning permission, for the expansion of The Academy of Gymnastics. The club’s objective is to 'promote gymnastics in North Somerset' and we're delighted to see that the popularity of gymnastics in the area is strong enough to support this major expansion.
"The building attracted considerable interest from a wide range of users, particularly across the leisure sector, demonstrating the town's resilience to the market uncertainties. The Academy of Gymnastics was keen to secure the site, as there is a shortage of quality units such as this, with parking, in such a central location but within easy reach of the motorway network.
"We continue to see considerable demand for freehold properties within Portishead and the surrounding greater Bristol area, values are rising accordingly".
"We are pleased to have been involved in securing this sale for our client and also in bringing this excellent new facility to Portishead, which will act as a real asset for the local community and the wider Bristol area."
Alder King acted on behalf of the purchaser.