Investment – Belgrave House, Whittle Way, Brockworth, Gloucester
- Excellent location close to a range of amenities including a Tesco supermarket, a David Lloyd health and fitness centre, Premier Inn and Brewers Fayre family pub/restaurant.
- The portfolio being offered includes 16 flats within the Block of 25.
- The apartments are fully let on Assured Shorthold Tenancies generating an annual rent of £142,296 per annum.
- A purchase at the quoting price of £2.25m reflects a gross initial yield of 6.32% and capital value equating to approximately £190 per sq ft.
Belgrave House is a modern development with commercial units on the ground floor and residential above.
The property is over 4-storeys and is of steel frame construction with a combination of brick, timber clad and rendered elevations under flat roofs.
The apartments have been finished to a high standard throughout and the accommodation includes open plan kitchen/dining/living areas, fully fitted kitchens with a range of appliances, modern bathrooms, balcony and the 2-bedroom flats benefit from en-suite shower rooms.
Each flat has an allocated parking space, and a number of visitor's spaces are provided.
Gloucester is the commercial and administrative centre of the county and supports a resident population of approximately 121,700 (Census 2011).
Gloucester has a strong and established industrial base together with, in recent years, a significant expansion of the office centre through the developments on the business parks close to the motorway junctions.
Gloucester is approximately 9 miles (14.5 km) west of Cheltenham, 35 miles (56.3 km) north of Bristol, 55 miles (88.5 km) south of Birmingham and 100 miles (161 km) west of London. Access to the motorway network is available at Junction 11, 11a and 12 of the M5 motorway and Junction 15 of the M4 at Swindon. The M4 is accessed via the A417/A419 trunk road.
Gloucester Business Park extends to approximately 276 acres offering a mix of high-quality office accommodation, retail and leisure facilities including a Tesco supermarket, a David Lloyd health and fitness centre, Premier Inn and Brewers Fayre family pub/restaurant.
A summary of the accommodation is set out in the Tenancy Schedule.
The one-bedroom flats are listed within Band A for Council Tax purposes and the two-bedroom flats, Band B.
Consent was granted for the development in 2008 (Planning Ref. No: 08/01461/FUL).
We have been instructed to invite offersfor the property which is held by way of a 150-year lease from 19th August 2011, at a price of £2,250,000, subject to the occupational tenancies in place.
A purchase at this level equates to a gross initial yield of 6.32% and capital value of approximately £190 per sq ft.
The property is not elected for VAT.
A service charge is levied to cover the costs associated with the upkeep and maintenance of the communal areas of the Business Park.
Further details are available from the agents upon request.
Each party to bear their own costs incurred in the transaction.
Simon McKeag: 07737 691453
Harry Pontifex: 01242 255242
JOINT AGENT: Michael Tuck
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