The property comprises two adjoining, (internally connected) mid/end terrace, two storey office buildings constructed around 2009 of brick construction with profile cladding detail, resting under a pitched tiled roof and form part of a terrace of three similarly sized units and benefits from double glazed, powder coated, aluminium framed windows and door entrances, together with concrete flooring.
Internally, the property at No.302 provides a ground floor entrance lobby off which are located two toilets, entrance and access to the reception and main open plan office, with stairs from the reception lobby also leading to the first floor which provides open plan office accommodation. Both ground and first floor open plan offices are open to the adjoining No.303 which on ground floor provides an entrance lobby off which are located a WC and shower room, and access to main open plan offices with kitchen and store room, with stairs from the lobby also leading to the first floor which likewise provides open plan office accommodation within a side kitchenette.
In general, the office accommodation has carpeted floor covering, emulsion walls and suspended acoustic tiled ceiling with integral LED lighting, wall mounted thermostatically controlled radiators serviced by a gas central heating boiler, three compartment perimeter trunking for electricity, computer and telephone cable and roller blinds to the windows.
The ground floor kitchen has fitted units including a stainless steel single drainer sink unit. The first floor office includes a side kitchenette area which also has fitted kitchen units and a stainless steel sink unit.
The central heating is supplemented by ceiling mounted cassette air conditioning units.
Externally, the unit has a tarmacadam surface driveway and block paved car parking with approximately 22 allocated car parking spaces.
The property has an EPC Rating of B-42.
Tenancy
The property is let to Tony Gee and Partners LLP on a 15‑year full repairing and insuring lease from 5 May 2021 at a passing rent of £69,832 per annum. The lease incorporates tenant break options at every fifth anniversary, which coincide with upwards‑only rent reviews. A rental increase to £82,302 per annum has been agreed with effect from 1 May 2026.
Covenant
Founded in 1974, Tony Gee and Partners LLP is a well‑established, consulting engineering practice with a strong reputation for delivering complex civil, structural and infrastructure projects across the UK and internationally.
The company has a credit limit of £2,000,000 and a contract limit of £14,500,000, and a risk score of 93, indicating a very low risk (source Creditsafe). From their latest published accounts, the key financial highlights are as follows:
| |
31/03/2025 |
31/03/2024 |
| Turnover |
£57,260,421 |
£61,463,477 |
| Pre-tax Profit |
£7,648,549 |
£10,286,592 |
| Net Worth |
£16,401,110 |
£15,869,384 |
Address :
302 and 303 Stonehouse Park
Sperry Way
Stonehouse
Stroud Valleys
GL10 3UT
Situated on the modern Stonehouse Park office development, a 12 acre site in a pleasant waterside location adjacent to the Stroudwater Canal, situated approximately 1½ miles southwest of Stonehouse, a small Severnvale town with a population of approximately 2,500. Stonehouse has a mainline railway station with journeys to London Paddington taking approximately 1¾ hours. The property is situated approximately 4 miles to the west of Stroud town centre, 11 miles south of Gloucester city centre, 20 miles south of the centre of Cheltenham, 17½ miles west of Cirencester and 28 miles north of central Bristol. The property is situated approximately 2 miles east of Junction 13 of the M5 motorway and is located immediately off the A419, opposite the well established Stroudwater Business Park, where occupiers include Renishaw Plc, Schlumberger and Muller.
The Rateable Values appearing on the Valuation Office Agency website are:
| 302 (Ground Floor) |
£22,750 |
| 302 (First Floor) |
£23,500 |
| 303 |
£42,750 |
Approximate net internal areas
302 Stonehouse Park
| Ground Floor |
110.76 m2 |
1,192 ft2 |
| First Floor |
123.49 m2 |
1,329 ft2 |
| Total |
234.25 m2 |
2,521 ft2 |
303 Stonehouse Park
| Ground Floor |
111.98 m2 |
1,205 ft2 |
| First Floor |
124.89 m2 |
1,344 ft2 |
| Total |
236.87 m2 |
2,548 ft2 |
The total approximate net internal area is 471.12 m2 (5,079 ft2).
Office use within Class E.
Terms
We are instructed to seek offers in the region of £1,000,000 (One Million Pounds), which reflects a net initial yield of 7.80% after purchasers' costs at 5.45% or gross yield of 8.23%.
VAT
The property is elected for VAT purposes; however, it is proposed the sale is treated as a Transfer of a Going Concern.
Service Charges
A charge is levied by the Estate Landlord to cover the costs associated with the upkeep and maintenance of the common areas.
Legal Costs
Each party to bear their own legal costs incurred in the transaction.
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.
