For sale

40b London Road, Gloucester GL1 3NU.

Investment Gloucester For sale 183.09 m2 (1971ft2)

The property comprises an imposing Victorian building over three storeys and is of brick construction under a tiled roof. The ground floor has 2 entrances off Claremont Road and includes the main retail area, 3 offices and a kitchen and WC facilities including a disabled WC.

The first and second floors are self-contained also with access off Claremont Road. The accommodation comprises a range of cellular offices and kitchenette and WC facilities are also provided. In general, the property has painted plastered ceilings and walls, a combination of LED, Category II and strip lighting and carpet and lino floor coverings.

The property does not have allocated parking but on street parking is available in the immediate area.

EPC - The property has a Rating of D-84. The EPC has expired and a new one is being prepared. 

 

Tenancies

The ground floor is let to Premier Barbers Ltd on a 5-year lease to expire 18th March 2030 at a rent of £12,000 per annum, on a full repairing and insuring basis via a service charge contribution. The lease includes a rent review on the 3rd anniversary of the term. The lease is excluded from the Security of Tenure provisions of the Landlord & Tenant Act 1954, Part II.

The tenant occupying the upper floors will vacate upon lease expiry in May 2026. 

Address and Location

Address :

40b London Road
Gloucester
GL1 3NU

Gloucester serves as 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 benefits from 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 occupies a prominent corner position at the junction of London Road and Claremont Road, one of the principal approaches to Gloucester Royal Hospital. The City Centre lies within half a mile, and the property has good access to the ring road and Junction 11 of the M5 Motorway.

Rates

The Rateable Values appearing on the Valuation Office Agency website are:

Ground Floor £7,600
First and Second Floors £5,700

 

Accommodation

(Approximate net internal areas)

Ground Floor 80.62 m2 (867 ft2)
First Floor 63.32 m2 (682 ft2)
Second Floor 40.15 m2 (432 ft2)
Total 183.09 m2 (1,971 ft2)

Planning

A barber shop and offices within Class E. The property is not listed but does lie within a Conservation Area.

Terms

Terms

The property is offered freehold subject to the occupational tenancies in place. The offices on the upper floors are available to let on a new effectively full repairing and insuring lease, via a service charge contribution for a term to be agreed. Further information is available upon request. MONEY LAUNDERING The purchaser will be required to provide information to satisfy AML requirements.

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 183.09 m2 (1971ft2) Price: £325,000

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