For sale

Gloucester - Heathville House, 5 - 5a Heathville Road, GL1 3DP

Other Gloucester For sale 311.92 m2 (3358ft2)

Student property investment comprising 17 individual rooms.

Investment Considerations

  • Fully let student investment within walking distance of the University of Gloucestershire’s Campuses at Oxstalls and Kings Square and Gloucestershire Royal Hospital.
  • The total future gross income is £93,500 per annum.
  • A purchase at the asking price would reflect a gross initial yield of approximately 7.19%.

The property is of brick construction with a pitched tiled roof over and with decorative fascia board and stone detailing to the windows, with accommodation located on three floors. There have been two extensions, also of brick with pitched and hipped roofs over, with some single additions, part flat roofs and a front extension with lean to tiled roof.

Tenancies

The rooms are to be let for periods of 11 months from September 2023 at rents of £500 per month (£93,500 per annum in total). Deposits of £250 are to be paid and guarantors provided. Further information available from agents.

Address and Location

Address :

Heathville House
5 & 5A Heathville Road
Gloucester
Gloucester
GL1 3DP

Gloucester is the commercial and administrative centre of the County and supports a resident population of approximately 121,700 (2011 Census). Gloucester has a strong and established traditional industrial base together with, in recent years, a significant expansion as an office centre through the developments on the business parks close to the Motorway junctions. 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. The property is located on the western side of Heathville Road, accessed off London Road, 1 of the principal arterial routes leading into Gloucester. It is set back from the road and provides generous parking to the front and rear, with a total of 18 allocated spaces.

Rates

The building is listed within Band E for Council Tax purposes.

Accommodation

The total gross internal area extends to approximately 402.76 sq m (4,335 sq ft).

Planning

A change of use was obtained for the former Doctors Surgery to 2 HMOs with 10 letting bedrooms in Property A and 7 letting rooms in Property B.

Terms

Terms

We are instructed to seek offers in the region of 1,300,000 for the freehold interest in the property, subject to the tenancies in place. Further information available from the agents.

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.

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Other Gloucester For sale 311.92 m2 (3358ft2) Price: £1,300,000

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