For sale

38 London Road, Gloucester, GL1 3NU.

Investment Gloucester For sale 170.82 m2 (1839ft2)

The property is an end terrace building fronting the London Road and is of brick construction under a pitched tiled roof. The front section is three floors and there is a two-storey extension to the rear. 

The accommodation includes a self-contained retail unit on the ground floor with fully glazed frontage and a 3-bedroom flat above. Access is provided to the upper floors from the rear.

Tenancies
The ground floor is let to JD Romfalvi for a term of five years from 1st July 2022 to 1st July 2027, at a rent of £800 per calendar month (£9,600 per annum), for use as a hair and beauty salon. 

The lease is on full repairing terms as to the interior, with the tenant responsible for internal repair and decoration, the shop front, windows, door and signage, together with a contribution towards the landlord's buildings insurance. It includes a tenant-only break option on 1st July 2025, and the lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954.

The flat is let on an Assured Shorthold Tenancy at a rent of £700 per month (£8,400 per annum).

The total current income is £18,000 per annum.

EPC - The shop has an EPC Rating of C-73, and the flat has a Rating of E-54.

Address and Location

Address :

38 London Road
Gloucester
GL1 3NU

Gloucester is the commercial and administrative hub of Gloucestershire, with a resident population of approximately 132,416 (2021 Census). The city lies 9 miles west of Cheltenham, 35 miles north of Bristol, 55 miles south of Birmingham, and 100 miles west of London. It has excellent motorway connectivity, with access via Junctions 11, 11A and 12 of the M5, and Junction 15 of the M4 at Swindon, linked by the A417/A419 trunk road.

The property is situated in a prominent position on the London Road in a mixed residential and commercial area, within walking distance from Gloucester Railway Station, and the town centre. Neighbouring occupiers include a Tesco Convenience Store and range of local retailers.

Rates

The Rateable Value appearing on the Valuation Office Agency website is £8,100.  Prospective occupiers are advised to make their own enquiries to establish any transitional relief that may be applicable.

The flat falls within Band A for Council Tax purposes. 

Accommodation

(Approximate net internal area)

Ground Floor 68.46 m2 (737 ft2)
First & Second Floor 102.36 m2 (1,098 ft2)
Total 170.82 m2 (1,835 ft2)

Planning

Retail and residential within Classes E and C3 of the Use Classes Order 1987. The property is not Listed but falls within a Conservation Area.

Terms

Terms

The property is offered freehold subject to the occupational tenancies in place.

VAT

The property is not 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:

  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.

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Investment Gloucester For sale 170.82 m2 (1839ft2) Price: £350,000

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