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.

Location:

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).

Accommodation:

Approximate net internal areas.

Ground Floor: 166.38 sq m (1,791 sq ft)

First Floor: 187.29 sq m (2,016 sq ft)

Total: 353.57 sq m (3,807 sq ft)

Rates:

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

Ground Floor: £20,250

First Floor: £22,500

Planning:

Offices within Class E.

Tenancies:

Ground floor

Diab Ltd. Company No. 01651261

Terms: 5 years from June 28, 2021. FRI via a service charge contribution.

Rent:

Year 1 £28,656 (£16 per sq ft)

Year 2 £29,551.50 (£16.50 per sq ft)

Year 3 £30,447 (£17 per sq ft)

The rent to be reviewed on the 3rd anniversary of the term.

Break clause: June 28, 2024 (not exercised)

First floor

Fidelius Financial Holdings Ltd.

Terms: 8 years from January 27, 2023. FRI via a service charge contribution.

Rent: £35,280 per annum (£17.50 per sq ft) The rent to be reviewed on the 4th anniversary of the term.

Break clause: January 27, 2027.

Diab Ltd has been at the leading edge of composite core material development for over sixty years, supplying a wide range of markets including marine, wind energy, transport, aerospace and industry. The company has a score of 82 with Creditsafe which reflects very low risk.

31/12/2022

Turnover: £8,412,979

Pre-tax Profit: £269,283

Net Worth: £659,771

31/12/2021

Turnover: £7,525,994

Pre-tax Profit: £141,024

Net Worth: £538,712

31/12/2020

Turnover: £4,957,026

Pre-tax Profit: £6,843

Net Worth: £443,292

Fidelius Group offers financial services across the United Kingdom, including wealth management, employee benefits, cooperate wealth and mortgages. The company has a score of 74 with Creditsafe which reflects very low risk.

31/12/2022

Turnover: £18,053,466

Pre-tax Profit: -£80,320

Net Worth: £14,444,324

31/12/2021

Turnover: £18,336,695

Pre-tax Profit: £1,044,188

Net Worth: £15,020,269

31/12/2020

Turnover: £12,883,040

Pre-tax Profit: £2,918,046

Net Worth: £13,963,896

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%.

Money laundering:

The purchaser will be required to provide information to satisfy AML requirements.

VAT:

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

Legal costs:

Each party to bear their own legal costs incurred in the transaction.

Contact:

Ash Chartered Surveyors 

Simon McKeag

07737 691453

simon@ashproperty.co.uk 

Harry Pontifex

07917 886176

harry@ashproperty.co.uk