|Property Reference Number||200004482477|
The property consists of four commercial and industrial storage buildings totalling 11,936 sq ft (1,108.93 sq m) GIA, which together with the yard area totals 2.10 acres (0.49 hectares).
The main warehouse was constructed in circa 2000’s and is split to provide a well specified showroom with trade counter and a storage warehouse. The building is constructed of steel portal frame with an eaves height of 5.35 metres. The trade counter element benefits from suspended ceilings and recessed strip lighting, and a first-floor mezzanine area provides further storage accommodation.
The office accommodation has brick elevations with suspended ceilings and perimeter trunking in part. The two ancillary industrial storage units consist of steel and concrete frame construction with corrugated asbestos elevations, with eaves heights of between 3.5 – 4.7 metres.
The tenant has undertaken their own improvements to the buildings and the roofs, including refurbishing the ancillary office accommodation. The tenant has also installed a further timber storage unit totalling 102.54 sq m (1,104 sq ft) GIA.
- Well located property, close to the Gloucester ring road and two M5 Junctions
- Rare and valuable site of 2.10 acres (0.49 hectare) reflecting a low site cover of only 13%
- Four industrial and office buildings totalling 11,936 sq ft (1,108.93 sq m) GIA plus substantial surplus yard
- Let to Buildit Gloster Limited (D&B rating 2A1) until November 2025
- Passing rent of £82,128 per annum equating to a low rent of £4.36 per sq ft for the buildings and £35,000 per acre for the surplus yard
- Unexpired term of 4.55 years
- £1,200,000 (One Million Two Hundred Thousand Pounds) subject to contract and exclusive of VAT
- Net Initial Yield of 6.46%
- Purchase equates to only £570,000 per acre