The unit comprises a single bay clear span portal frame unit, 236ft in length, having brick and block walls to 9ft., above which there are lined steel profile claddings incorporating two roller shutter loadings at each end of the unit, providing direct access from a significant private yard and car parking area.
Centrally facing the car park looking east, the unit has two tier aluminum framed windows at ground and first floor level, with two separate pedestrian entrances.
The unit has eaves height (minimum 5.6 metres). 2 new roller shutter doors, one at each end of the unit width 18’2’’ x 16’5’’ (height). Steel portal frame with lined cladding above 9’0’’.
Pitched roof with two banks of roof lights to each pitch. 3 rows of suspended sodium electric lights. 2 Combat industrial gas fired space heaters. Concrete floor. Good natural lighting. Separate Male and Female toilets, staff room and switch gear room.
The property is accessed directly off Rutherford Way, leading to a large tarmac and concrete surfaced yard area, extending to 0.47 acres. There is a vehicle wash down facility and sub ground fuel
retention Class 1 Petrol Interceptor.
The property has an EPC rating of D 80. Certificate Ref No:1876-8179-2749-2029-2743
Investment Considerations
• Short term tenancy expiring 3rd December 2023. The lease is inside the Landlord & Tenant 1954 Act provision.
• Passing rent of £136,000 per annum, devalues to £7.25 per sq ft.
• The tenant Marshall Motor Group Ltd has been trading since 1934 and their turnover reported to 2020 was in excess of £980,160,000.
The property is well located within the Kingsditch Trading Estate, close to the Tewkesbury Road about 2½ miles west of Cheltenham town centre. The unit is situated immediately behind the frontages to Manor Park Road, with access from Rutherford Way leading from the roundabout which is adjacent to Gallagher Retail Park.
The Rateable Value appearing on the Valuation Office Agency website is £90,000.
( Approximate Gross Internal Areas)
| Property | Size m2 | Size ft2 |
| Ground floor Warehouse, Offices, Storage, Kitchen and WC's | 1,532.90 | 16,500 |
| First Floor Office Space | 125.42 | 1,350 |
| Mezzanine Store | 83.61 | 900 |
| Total | 1,742.93 | 18,750 |
The property has been used in recent times for general industrial and storage use which falls within Classes B2 and B8 of the Use Classes Order 1987.
We are instructed to seek offers in the region of £1,875,000 for the freehold interest in the property, subject to the tenancy outlined. Further information available from the agents. Based on a rental income of £136,000 per annum, a purchase at £1,875,000 would reflect a net initial yield of approximately 6.85% after purchaser’s costs. Tenancy The property is let to Marshall Motor Group Ltd (by way of an assignment) expiring 3rd December 2023 at a rent of £136,000 per annum on a full repairing and insuring basis subject to a photographic schedule of condition. The lease is inside the Landlord & Tenant 1954 Act provision.
The property is not elected for VAT.
Each party to bear their own legal costs incurred.
ASH Chartered Surveyors for themselves and for the vendors or lessors of this property for whom they act, give notice that:
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.
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