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Gloucestershire Business News

EXCLUSIVE: Major Gloucester headquarters up for sale

The Gloucester building which EDF Energy made its new headquarters last year is up for sale.

Javelin House in Gloucester Business Park is on the market for almost £20million.

It is home to hundreds of EDF staff who moved there as part of the company's relocation to Brockworth. They include nuclear scientists, engineers and technical support staff.

It is not known what will happen to the 22 acre Barnwood site which became home to the UK nuclear fleet's engineering, administrative and technical HQ in the 1970s.

The business was bought by French company EDF in 2009 and in 2021 it announced it was leaving Barnwood after 45 years.

It revealed plans to move into three buildings on the Park- Javelin House, Charlton Court and Valiant Court.

The freehold of Javelin House is now being marketed for sale for offers in excess of £19.35m.

Estate agents Alder King are marketing the site and said: "Assuming purchaser's costs of 6.75%, an acquisition at this level reflects an attractive net initial yield of 7.75% and a low capital value of £297 per sq ft on Javelin House only."

It said there has been a 65% rental growth at Gloucester Business Park over the last 10 years and the upwards trend was expected to continue due to restricted supply and "unprecedented low levels" of void space,

"There has been no availability of Grade A space on the Park since the letting of Javelin House. However Valiant Court, a nearby 30,000 sq ft building will become available in early 2024 following refurbishment."

According to Companies House, Javelin House was last sold in December 2022 for £16.3m.

If it goes ahead, the sale should not affect EDF which in total occupies 90,000 sq ft of space across the park and has 1,200 staff in Gloucester-making it one of the city's biggest employers.

Alder King said the company has a 10 year lease for the building and a neighbouring carpark which lasts until September 2032.

EDF nuclear division is co-ordinating the design and construction of the £33billion Hinkley Point C from Gloucester Business Park.

It is anticipated to be completed in 2027 and will have capacity to generate enough low carbon energy to power approximately 6million homes.

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