For sale

3-5 Broad Street, Newent GL18 1AQ.

Investment Gloucester For sale 369.23 m² (3974ft²)

The property is a Grade II Listed building dating from the 17th Century with later additions. It has brick elevations with ashlar render under a tiled roof.

It has recently been refurbished to a high standard throughout and a range of original features have been retained such as exposed beams, original paneling and sash windows. It has been fully re-wired, and a new gas heating system has been installed.

There is a self-contained retail unit in the ground and first floor of No. 3, and a 7-bedroom HMO occupies the remainder of the accommodation.

The HMO accommodation includes 7 fully furnished double bedrooms, 2 with en-suite facilities and separate office/dressing area, a fully fitted kitchen with range of Neff appliances and separate dining/utility area. There is also a downstairs toilet and family sized bathroom with 3-piece suite with electric shower over the bath. The furniture is brand new, HMO-specific supplied by Fusion Furniture.

The retail unit benefits from a fully glazed frontage and includes ancillary space at first floor level.

Address and Location

Address :

3-5 Broad Street
Newent
Gloucester
GL18 1AQ

Newent is an expanding country market town with a population of approximately 5,500, situated approximately 10 miles north-west of Gloucester, off the B4215 Gloucester to M50 road which by-passes the town. Junction 3 of the M50 Motorway, which links to Ross-on-Wye and South Wales and to the M5 and national motorway network, is approximately 3 miles to the west of the town.

The property is located in a prominent town centre location on Broad Street, which is the main thoroughfare through the town. There are a range of local amenities provided in the immediate area and the town’s main public car park is a short distance away. There is allocated parking to the rear of the property with electric car charger and enclosed garden.

Downloads

3 5 Broad Street pdf, 0.57 Mb

Rates

The Rateable Value listed on the Valuation Office Agency website for the commercial unit is £6,100 and the HMO falls within Band E for Council Tax purposes.

Accommodation

Tenancy Schedule

No.		*Tenant ()**	Terms	Rent	Area	EPC	Rates/ Council Tax
3	Shop	Andrew Bird hearing Ltd	A new 5-year lease has been agreed.	£10,000 per annum.	76.23 m2 (821 ft2)	C-62	£6,100
5	Room 1 (en suite)	Private individual	6-month AST.	£700 per month.	293 m2 (3,154 ft2)	D-65	Band E
	Room 2	Private individual	6-month AST.	£550 per month.
	Room 3 (en suite)	Private individual	6-month AST.	£700 per month.
	Room 4	Private individual	6-month AST.	£550 per month.
	Room 5	Private individual	6-month AST.	£500 per month.
	Room 6	Private individual	6-month AST.	£550 per month.
	Room 7	Private individual	6-month AST.	£550 per month.
			TOTAL ANNUAL RENT	£59,200	369.23 m2 (3,975 ft2)
(*) Ashton & Daniels have been acquired by Andrew Bird Hearing Ltd who were established in 2007 and trade from 17 locations across the region. A new lease has been agreed from 2026 and the rent increases to £11,000 in Year 2 and then £12,000 in Year 4.

Planning

The property has been used for general retail and a single dwelling which fall within Classes E and C3 of the Use Classes Order 1987. An HMO licence is in place for 7 people.

Terms

We are instructed to seek offers in the region of £620,000 for the freehold interest in the property, subject to the tenancies outlined in the schedule. A purchase at this level would reflect a gross yield of 9.55% or net initial yield of 9.10% after purchaser’s costs of 4.81%.

VAT

The property is no elected for VAT.

Costs

Legal Costs

Each party to bear their own legal costs incurred in the transaction.

Property Disclaimer

ASH Chartered Surveyors for themselves and for the vendors or lessors of this property for whom they act, give notice that:

these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract;
ASH Chartered Surveyors cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy;
no employee of ASH Chartered Surveyors has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property;
rents quoted in these particulars may be subject to VAT in addition; (v) ASH Chartered Surveyors will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars; and
the reference to any plant, machinery, equipment, services, fixtures or fittings at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function. Prospective purchasers/tenants should satisfy themselves as to the fitness of such items for their requirements.

Code of Practice for Commercial Leases in England and Wales

You should be aware that the Code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licenced conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations.

Money Laundering Regulations

As part of our obligations under the UK Money Laundering Regulations 2017, ASH will require any tenant/purchaser to provide proof of identity along with any other required documentation to satisfy anti-money laundering regulations.

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