35 Northgate Street, Gloucester, GL1 2AN.

The property is situated fronting Northgate Street close to the junction with St Johns Lane approximately ¼ mile north from the prime Gloucester city centre retail district situated at ‘The Cross’. Retail occupiers in the immediate area include TK Maxx, Sports Direct, Savers, Bon Marche, Peacocks, and a number of independent traders. The former Debenhams department store immediately opposite the property has been converted for use by the University of Gloucestershire. Gloucester Royal Hospital and Gloucester Mainline Railway Station and Bus Station are located within ½ mile to the east of the property.

The Rateable Value listed on the Valuation Office Agency website is £15,750. 

(Approximate net internal area)

Within Class E of the Use Classes Order 1987.

Terms

We are instructed to seek offers at £215,000 for the freehold interest subject to the lease in place. A purchase at this level reflects a net initial yield of 7.97% after purchasers' costs at 2.11% or a gross yield of 8.14%.

VAT

The property is not elected for VAT.

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:

1. 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;
2. 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;
3. 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;
4. 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
5. 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.