Investment - Units 13-19 Chase Lane Industrial Estate, Eastern Avenue, Gloucester
The premises comprise a terrace of industrial units of steel portal frame construction with part brick/part clad elevations under a fully clad roof. Each unit is self-contained and is accessed by a vehicular door or pedestrian door.
Externally, there is allocated parking in the yard to the front of the units.
The units are fully occupied; however, formal lease agreements are not in place. The vendor has been arranging the buildings insurance and maintaining the exterior of the properties. The tenants are responsible for maintaining the interior of the properties and any running costs such as business rates and utilities.
The current rental income is set out below.
Rent per annum exclusive of VAT
Unit 13: £6,933.12
Unit 14: £4,048.08
Unit 15: £4,795.92
Unit 16: £4,290.00
Unit 17 & 18: £9,239.88
Unit 19: £4,048.08
* A concessionary rent was agreed for a related party.
The premises are located off the A38 Gloucester Ring Road (Eastern Avenue) which, in turn, provides access to Junction 11 of the M5 motorway network, approximately 4 miles north east and Junction 12 approximately 3 miles south of the subject property.
This is an established commercial location with other occupiers in the immediate vicinity including Screwfix, Big Yellow, Howden Joinery and Homebase.
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 gross internal areas
Total: 484.87 sq m (5,220 sq ft)
The entries appearing on the Valuation Office Agency website are as follows:
Unit: 13: £7,400
Unit: 14: £3,950
Unit: 15: £3,950
Unit: 16: £4,350
Unit: 17 & 18: £6,800
Unit: 19: £4,350
The properties have been used for a range of light industrial, general industrial and storage uses (Classes B1, B2 and B8 of the Use Classes Order 1987).
The property is offered freehold.
The property is elected for VAT; however, it is proposed to treat the transaction as a Transfer of a Going Concern (TOGC).
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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