The unit comprises a single bay clear span portal frame unit, 236ft in length, having brick and block walls to 9ft., above which there are lined steel profile claddings incorporating two roller shutter loadings at each end of the unit, providing direct access from a significant private yard and car parking area.

Centrally facing the car park looking east, the unit has two tier aluminum framed windows at ground and first floor level, with two separate pedestrian entrances.

The unit has eaves height (minimum 5.6 metres). 2 new roller shutter doors, one at each end of the unit width 18'2'' x 16'5'' (height). Steel portal frame with lined cladding above 9'0''.

Pitched roof with two banks of roof lights to each pitch. 3 rows of suspended sodium electric lights. 2 Combat industrial gas fired space heaters. Concrete floor. Good natural lighting. Separate Male and Female toilets, staff room and switch gear room.

The property is accessed directly off Rutherford Way, leading to a large tarmac and concrete surfaced yard area, extending to 0.47 acres. There is a vehicle wash down facility and sub ground fuel retention Class 1 Petrol Interceptor.

The property has an EPC rating of D 80. Certificate Ref No:1876-8179-2749-2029-2743.

Investment Considerations

• Short term tenancy expiring 3rd December 2023. The lease is inside the Landlord & Tenant 1954 Act provision.

• Passing rent of £136,000 per annum, devalues to £7.25 per sq ft.

• The tenant Marshall Motor Group Ltd has been trading since 1934 and their turnover reported to 2020 was in excess of £980,160,000.

Location:

The property is well located within the Kingsditch Trading Estate, close to the Tewkesbury Road about 2½ miles west of Cheltenham town centre.

The unit is situated immediately behind the frontages to Manor Park Road, with access from Rutherford Way leading from the roundabout which is adjacent to Gallagher Retail Park.

Accommodation:

(Approximate Gross Internal Areas)

Ground floor Warehouse, Offices, Storage, Kitchen and WC's: 1,532.90 sq m (16,500 sq ft)

First Floor Office Space: 125.42 sq m (1,350 sq ft)

Mezzanine Store: 83.61 sq m (900 sq ft)

Total: 1,742.93 sq m (18,750 sq ft)

Price:

£1,875,000

Rates:

The Rateable Value appearing on the Valuation Office Agency website is £90,000.

Planning:

The Rateable Value appearing on the Valuation Office Agency website is £90,000.

Terms:

We are instructed to seek offers in the region of £1,875,000 for the freehold interest in the property, subject to the tenancy outlined.

Further information available from the agents.

Based on a rental income of £136,000 per annum, a purchase at £1,875,000 would reflect a net initial yield of approximately 6.85% after purchaser's costs.

Tenancy

The property is let to Marshall Motor Group Ltd (by way of an assignment) expiring 3rd December 2023 at a rent of £136,000 per annum on a full repairing and insuring basis subject to a photographic schedule of condition.

The lease is inside the Landlord & Tenant 1954 Act provision.

VAT:

The property is not elected for VAT.

Legal costs:

Each party to bear their own legal costs incurred.

Contact:

Ash & Co 

Simon McKeag: 07737 691453

Harry Pontifex: 01242 255242