An IVG fund has bought a city centre Bristol building for almost £22m, in the city’s largest investment deal this year.

IVG bought 1 George’s Square, on Bath Street in Bristol, for £21.9m from Invista (Property Week, 31.10.08).

IVG bought the 68,660 sq ft building, which is let to Clarke Wilmott until 2023, at a net initial yield of 6.65%.

CB Richard Ellis advised IVG and King Sturge advised Invista.

Andy Sayner, senior investment director at CBRE’s Bristol office, said: ‘Despite the tough market conditions, this is one of the largest investment deals to complete in Bristol this year.’