Albion Chambers, 111 Eastgate Street, GL1 1PY & 1 Nettleton Road, Gloucester GL1 1QD

Gloucester is located approximately 9 miles (14.5 km) west of Cheltenham, 35 miles (56.2 km) north of Bristol, 55 miles (88.5 km) south of Birmingham and 100 miles (161 km) west of London. Access to the motorway network is available at Junctions 11, 11A and 12 of the M5 and Junction 15 of the M4 at Swindon. The link to the M4 is via the A417/A419 trunk road. Gloucester Railway Station provides direct services to London with journeys taking just under two hours, and both Gloucester and Cheltenham share a local airport at Staverton, approximately 8 miles away.

The property fronts Eastgate Street, one of Gloucester’s four principal thoroughfares linking
directly to The Cross and the city’s main retail and commercial centre, with 1 Nettleton Road adjoining to the rear and close to The Forum and the University of Gloucestershire’s City Campus.

• Albion Chambers pdf, 0.92 Mb
• First Floor Plan (2) pdf, 0.21 Mb
• Ground Floor Plan (2) pdf, 0.22 Mb
• Second Floor Plan pdf, 0.33 Mb
• First Floor Plan pdf, 0.53 Mb
• Ground Floor Plan pdf, 0.80 Mb

Council Tax bandings are included in the Accommodation Schedule.

Residential within Class C3 of the Use Classes Order 1987.

Terms

All twelve flats are let on Assured Periodic Tenancies, with a total gross rental income of £11,175 per month (£134,100 per annum). The property is offered freehold subject to the occupational tenancies in place. We are instructed to seek offers in the region of £1,630,000, which reflects a net initial yield of 7.77after purchasers' costs at 5.86% or gross yield of 8.23%.

VAT

The property is not elected for VAT.

Legal Costs

Each party to bear their own 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.