For sale

Gloucester, 1141 Regent Court, Gloucester Business Park, GL1 2NW

Investment Gloucester For sale 353.57 m2 (3806ft2)

Fully let office investment opportunity situated on Gloucester Business Park producing a net rental income of £65,727 per annum.

The property comprises a modern semi-detached office building of brick construction under a traditional pitched roof with tile covering. Each floor was originally designed to be open plan and have been fitted out by the respective occupiers.

The property has been finished to a high specification including fully raised access floors, air conditioning (first floor only), lift access, suspended ceilings with LED or LG3 compliant lighting, gas fired central heating, metal framed double glazed windows, male, female and disabled WC facilities.

The property is set within an attractive landscaped area and benefits from 15 allocated parking spaces.

The property has the following EPCs:

Ground Floor: C-54
First Floor: C-55

Both EPCs have expired and will be renewed.

The property is occupied as set out under Accommodation and copies of the relevant lease documentation is available upon request.

Address and Location

Address :

1141 Regent Court
Gloucester Business Park
Brockworth
Gloucester
GL1 2NW

Gloucester Business Park is located almost midway between Gloucester and Cheltenham, with its own link road to Junction 11A of the M5 motorway. It is approximately 4 miles from Gloucester, 6 miles from Cheltenham and adjoins the A417 dual carriageway trunk road to Swindon, M4 Motorway being approximately 30 miles away. The subject property is situated in Regent Court, in the business sector at the west of the park.

Gloucester is well connected to the motorway network, being served by three junctions of the M5; junction 11 provides access via the A40 (3 miles), junction12 to the south (5 miles) and junction 11a (3 miles) connects to the Brockworth Bypass, Cirencester/Swindon and the M4 motorway at junction 15 (34 miles).

Viewing

Strictly via prior arrangement with the sole agents.

Rates

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

Ground Floor: £20,250
First Floor: £22,500

Accommodation

Approximate net internal areas

Floor Area Tenant Terms Rent Break Clause
Ground Floor 166.38 sq m (1,791 sq ft) Diab Ltd 5 years from 28th June 2021. FRI via a service charge contribution. Year 1 £28,656 (£16 per sq ft) Year 2 £29,551 (£16.50 per sq ft) Year 3 £30,447 (£17 per sq ft)

28th June 2024 (not exercised).

First Floor 187.29 sq m (2,016 sq ft) Fidelius Financial Holdings Ltd 8 years from 27th January 2023. FRI via a service charge contribution. £35,280 per annum (£17.50 per sq ft). The rent to be reviewed on the 4th anniversary of the term. 27th January 2027.
  353.57 sq m (3,807 sq ft)        

Planning

Offices within Class E.

Terms

Terms

We are instructed to seek offers at £800,000 (Eight Hundred Thousand Pounds), which reflects a net initial yield of 7.81% after purchasers' costs at 5.19% or gross yield of 8.22%.

VAT

The property is elected for VAT purposes; however, it is proposed the sale is treated as a Transfer of a Going Concern.

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 353.57 m2 (3806ft2) Price: £800,000

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