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Gloucestershire Business News

1 Ambrose House, Meteor Court, Barnwood, Gloucester

Description:

1 Ambrose House comprises of an end terrace 3-storey office building of brick elevations beneath a pitched tiled roof.

The internal specification includes raised access floors, carpeting throughout, gas fired central heating with perimeter radiators and suspended ceilings incorporating recessed light fittings, with WCs on each floor.

The property benefits from a generous parking allocation of one space per 250 sq ft.

EPC The property has an EPC rating of D. A copy of the certificate can be provided upon request.

Investment Considerations:

  • Office Accomodation of approximately 3,000 sq ft
  • Fully let investment opportunity
  • Current rental income of £36,500 per annum
  • Offers sought in the region of £435,000, reflecting a net initial yield of 8%

Location details:

Ambrose House is located within Meteor Court on the edge of Gloucester within the established business location of Barnwood and benefits from excellent road communications, being situated adjacent to the A417 bypass.

Gloucester city centre is approximately three miles west and Cheltenham town centre is approximately seven miles north east. The M5 Motorway Junctions 11 and Junction 11A are both. are both easily available.

Accommodation:

282.8 sq m (3,044 sq ft)

All measurements are approximate Net Internal Areas.

Tenure:

Freehold.

VAT:

We understand the property is elected for VAT and will be chargeable on the purchase price.

Under the Finance Acts 1989 and 1997, VAT may be levied on the rent. We recommend that the prospective tenants establish the implications before entering into any agreement.

Rent:

This property benefits a current occupant, BABTAC Ltd, paying £36,500 pa.

They hold a 5 year lease from July 2016 expiring 11 July 2021. Renewal of an existing lease commenced from November 2011

Our understanding is that the tenancy is excluded from the security of tenure provisions within the Landlord and Tenant Act 1954.

Proposal:

Offers in excess of £435,000 are invited for this investment opportunity. A purchase at this level would reflect a net initial yield of 8% assuming normal purchaser's costs of 4.8%.

Legal Costs:

Each party is to be responsible for their own legal costs incurred in the transaction.

Contact:

Alderking 

Vicki Grimshaw

01452 627131

vgrimshaw@alderking.com 

John Hawkins

01452 627135

jhawkins@alderking.com 

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