Gloucester - 49/51 Northgate Street
The property comprises a 3-storey building of brick construction under a pitched tiled roof which is protected by parapet walls. The ground floor comprises a retail unit; access is only available from the front of the property.
The upper floors are self-contained with an access off Northgate Street. They are derelict at present.
The ground floor is let to Newbridge Amusements Ltd for a term of 10 years from 17th June 2016 with a tenant's break clause on the 5th anniversary, subject to them giving 6 months prior written notice. The current rent is £20,000 per annum with a rent review due on 17th June 2021. The lease is on a FRI basis via a service charge contribution. A 6 month deposit has been paid.
The upper floors are vacant.
The property has an EPC rating of F-131. Certificate Ref No: 0860-0835-6709-7003-7006.
The property is prominently located on Northgate Street, between the junctions with St Johns Lane and Hare Lane, approximately 200 metres North of Gloucester Cross, which is traditionally regarded as the centre of the City. Nearby occupiers include TK Maxx, Sainsbury's, Debenhams and a variety of local retailers.
Approximate Net Internal area
Ground floor: 72.28 sq m (778 sq ft)
First floor: 50.91 sq m (548 sq ft)
Second floor: 42.74 sq m (460 sq ft)
The assessment presently appearing on the Valuation Office Agency website is as follows:
Rateable Value: £11,000
Rate in £ 2018/2019: 0.493
The Rateable Value listed above includes the first floor.
The property has consent for use as a gaming centre (Sui Generis). The property is not Listed however does lie within a Conservation Area.
The property is offered freehold subject to the occupational tenancy outlined.
The property is elected for VAT.
Each party to bear their own legal costs incurred in the transaction.
Simon McKeag 07737 691453
Rebecca Rigg 01452 300433
Harry Pontifex 01242 255242
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