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Gloucestershire Business News

Gloucester industrial unit sold for £1.9 million

A prime unit on a Gloucester trading estate has been sold for a figure approaching £2million.

The freehold of the Speedy Hire unit on Goodridge Trading estate has been sold by City Momument Properties for £1.9million.

Alder King advised on the sale to a private investor who was represented by Warwick Martel.

Speedy Asset Services recently agreed a new 10-year lease on the 1.95 acre site, at a rent of £113,500 per year.

The unit has a large surfaced yard and a single-storey detached unit including integral offices and five roller doors for access.

Lucy Costain, associate in Alder King's investment team, said: "Demand for good quality investment opportunities across the South West remains high, with activity only constrained by the limited number of opportunities coming to market.

"This disposal was timed to capitalise on the particular demand for industrial assets with long-term income potential.

"And with the benefit of a new 10-year lease agreed in March, we were able to dispose of this low-density property for a price in excess of the guide price."

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