Gloucester - 51 Westgate Street
By Matt Hall
The property comprises a mid-terrace property of brick construction under a flat felt roof. The accommodation is over three floors and includes a retail unit with storage, kitchenette and WC facilities on the ground floor with offices, storage, a further kitchenette and WC facilities on the first and second floors.
The retail unit has a fully glazed frontage with a pedestrian door access and has a secondary access from the rear which also provides access to the upper floors. The retail unit has a suspended ceiling with inset lighting, laminate floor, plastered painted walls and electric storage heaters. There is also air conditioning which has not been tested in recent times.
The offices have painted plastered ceilings and walls, strip lighting, carpet, electric heaters and wooden framed double glazed windows.
The retail unit has an EPC rating of G-181. Certificate Ref No: 0040-2931-0392-6490-6094.
The property is let to Footsteps Counselling and Care for a term of 3 years from 30th March 2015 on an internal repairing basis at a rent of £18,000 per annum which equates to approximately £25psf ITZA. The landlord arranges for the property to be insured and maintains the exterior and the tenant, the interior.
The property is located on Westgate Street, within close proximity of the Cathedral and approximately ¼ of a mile from Gloucester Cross, which is traditionally regarded as the City centre.
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).
Approximate net internal area
169.44 sq m (1,824 sq ft)
A search on the Valuation Office Agency has confirmed the following:
Rateable Value: £19,500
Rate in £ 2018/2019: 0.493
The property is used for general retail, offices and storage.
We are instructed to seek offers in the region of £195,000 for the freehold interest in the property subject to the tenancy outlined.
The property is not elected for VAT. The intention would be to sell the property as a Transfer of a Going Concern.
Each party to bear their own costs incurred in the transaction.
Simon McKeag: 07737 691453
Rebecca Rigg: 01452 300433
Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.