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Gloucestershire Business News

Gloucester - Units 6, 7 and 8 Brearley Court, Waterwells Business Park

Description:

Units 6, 7 & 8 are situated in a block of six large light industrial/warehouse units.

The units are of steel portal frame construction and have part profiled metal sheet clad and part brick external elevations under a profile metal sheet roof incorporating translucent panels.

The units are built to a good specification with clear open span production areas, an eaves height of 6m (5m under haunch) and powder coated aluminum glazed doors and windows.

The majority of Unit 6 has been converted into a well fitted showroom with a full height glazed entrance, leading to a reception office, meeting room, general office, canteen and cloakrooms on the ground floor. The first floor over this section has been fitted out as a good quality general office, an accounts office and male and female cloakrooms in addition to a storage area.

The offices, reception and showroom have a timber floor covering, emulsion painted walls and suspended acoustic tiled ceiling with integral fluorescent lighting. The accommodation has three compartment trunking for electricity, computer and telephone cabling, stud partitioning and cassette air conditioning units. The canteen has appropriately fitted kitchen units.

With the exception of a trade counter and works cloakrooms the whole of Unit 7 is a well-lit production workshop area. The production workshop has wall mounted single and three phase electricity points, suspended sodium lighting, a biomass boiler to provide space heating and loading access provided by a single 'up and over' section door (4.43m wide x 5.00m high).

Unit 8 is being used for storage.

Externally, there is a tarmacadam surfaced yard with designated parking outside each unit together with loading access.

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TENANCY

Direct Online Services Ltd are proposing to commit to a new 10 year lease from completion of a sale, with a break clause on the 5th anniversary. The lease will be on a full repairing and insuring basis and the rent will be £132,000 per annum with a rent review on the 5th anniversary.

Location details:

Brearley Court is situated on the Waterwells Business Park approximately three miles south of Gloucester City centre and one mile north of Junction 12 of the M5 Motorway. The location provides access to the South West and Midlands via the M5 and to Wales via the M4 and M48 Motorways. Junction 11A connects with the A417 leading to Cirencester, Swindon and the South East via the M4.

Occupiers on the Business Park include Prima Dental, Kohler Mira, HSBC plc and the Gloucestershire Constabulary Headquarters in addition to a 106 bed Holiday Inn and a Public House. It is also the base for the City's Main Park and Ride. Brearley Court is a modern development of terraced industrial/warehouse units.

Accommodation:

Approximate gross internal areas

1,958.39 sq m (21,080 sq ft)

Rates:

The Rateable Value listed on the Valuation Office Agency website is £106,000.

Planning:

The property has consent for Classes B1 and B8 of the Use Classes Order 1987.

Terms:

We are instructed to seek offers in the region of £1,725,000 for the freehold interest in the property subject to the tenancy outlined. This reflects a gross initial yield of approximately 7.65% or net initial yield of 7.21% after purchaser's costs of 6.19%.

VAT:

The property is elected for VAT purposes. It is proposed that the sale is treated as a Transfer of a Going Concern.

Service Charges:

A charge is levied to cover the costs associated with the upkeep and maintenance of the communal areas.

Legal Costs:

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

Contact:

Ash & Co 

Simon McKeag: 07737 691453

Rebecca Rigg: 01452 300433

Harry Pontifex: 01242 255242

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