Kenmore Property Group has bought a retail complex in Bristol city centre for £20.5m.

Kenmore Property Group has bought a retail complex in Bristol city centre for £20.5m.

The property is located on Union Street, one of the city’s main shopping streets. Kenmore bought New Broadmead in Bristol from ING at a yield of 5.8%.

It comprises an island site with 16 units totalling 61,146 sq ft and current tenants include Next, Oasis and Monsoon.

Kenmore said it saw huge potential in Bristol’s city centre, particularly following the opening of The Bristol Alliance’s Cabot Circus scheme.

Andrew Brooksbank, investment director of Kenmore said: ‘There is a tremendous change occurring in the Bristol retail market and our acquisition of New Broadmead gives us an opportunity to get involved in the regeneration of this area.’

Savills acted on behalf of Kenmore and Nelson Bakewell advised ING.