John Deere House and Units 1-3 Ambrose House Meteor Court, Barnett Way, Barnwood Gloucester GL4 3GG

John Deere House and Units 1-3 Ambrose House
Meteor Court, Barnett Way, Barnwood
Gloucester
GL4 3GG

Modern Freehold Office Investment

  • Multi-let and flexible office accommodation on established business park
  • Approximately 1,563.40 sq m (16,828 sq ft) with excellent parking provisions
  • Excellent communication links being 2 miles from M5 (J11) & 3 miles from Gloucester city centre
  • Highly desirable office location with nearby occupiers including NHS, Lloyds Finance, Barclays, EDF, GCHQ and TSB
  • Sainsbury’s Superstore and Holiday Inn Express are also located close by
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    18
  • Auction
    22nd October 2015
  • Rent
    £109,162 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,050,000
  • Sector
    Office
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern Freehold Office Investment

  • Multi-let and flexible office accommodation on established business park
  • Approximately 1,563.40 sq m (16,828 sq ft) with excellent parking provisions
  • Excellent communication links being 2 miles from M5 (J11) & 3 miles from Gloucester city centre
  • Highly desirable office location with nearby occupiers including NHS, Lloyds Finance, Barclays, EDF, GCHQ and TSB
  • Sainsbury’s Superstore and Holiday Inn Express are also located close by
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 18
  • Auction 22nd October 2015
  • Rent
  • Status Sold
  • Price £1,050,000
  • Sector
    Office
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
2½ miles east of Gloucester town centre, 7 miles south-west Cheltenham, 36 miles north-east of Bristol
Roads
A417, A40, M5 (Junction 11A)
Rail
Gloucester Railway Station
Air
Gloucester Airport, Bristol Airport
Situation

Barnwood is a well established and popular out of town office location 2½ miles from Gloucester town centre. Meteor Court is an office development on the north side of Barnett Way, well located off the A417 which provides access to the M5 Motorway to the south-west (approx. 5 mins drive). Nearby occupiers include Sainsbury’s Superstore, TSB, Booker, Barclays Data Centre,
EDF, GCHQ and Holiday Inn.

Tenure

Freehold.

Location
Miles
2½ miles east of Gloucester town centre, 7 miles south-west Cheltenham, 36 miles north-east of Bristol
Roads
A417, A40, M5 (Junction 11A)
Rail
Gloucester Railway Station
Air
Gloucester Airport, Bristol Airport
Situation

Barnwood is a well established and popular out of town office location 2½ miles from Gloucester town centre. Meteor Court is an office development on the north side of Barnett Way, well located off the A417 which provides access to the M5 Motorway to the south-west (approx. 5 mins drive). Nearby occupiers include Sainsbury’s Superstore, TSB, Booker, Barclays Data Centre,
EDF, GCHQ and Holiday Inn.

Tenure

Freehold.

Description

The property comprises part of Meteor Court to include John Deere House, a detached three storey office building and Units 1-3 Ambrose House, a terrace of three adjoining and self-contained modern office units. The office accommodation benefits from raised floors, suspended ceilings, Cat 2 lighting, doubled glazed windows and excellent parking provisions within the estate.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises part of Meteor Court to include John Deere House, a detached three storey office building and Units 1-3 Ambrose House, a terrace of three adjoining and self-contained modern office units. The office accommodation benefits from raised floors, suspended ceilings, Cat 2 lighting, doubled glazed windows and excellent parking provisions within the estate.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review/(Reversion)
Ambrose House
– Unit 1
Ground
First
Second
Office
Office
Office
92.10 sq m
95.30 sq m
95.40 sq m
(991 sq ft)
(1.026 sq ft)
(1.027 sq ft)
BABTAC LIMITED (1) 5 years from 12/07/2011 £36,500 (11/07/2016)
Ambrose House
– Unit 2
Ground Office
90.49 sq m
(974 sq ft)
NUVIA LIMITED (2) 3 years from 12/09/2013 £12,662 (11/09/2016)
Ambrose Hous
– Unit 2
First
Second
Office
Office
94.29 sq m
94.29 sq m
(1,015 sq ft)
(1,015 sq ft)
VACANT POSSESSION      
Ambrose House
– Unit 3
Ground
First
Second
Office
Office
Office
85.10 sq m
91.14 sq m
91.10 sq m
(916 sq ft)
(981 sq ft)
(981 sq ft)
VACANT POSSESSION      
John Deere House Ground
First
Office
Office
244.73 sq m
244.73 sq m
(2,634 sq ft)
(2,634 sq ft)
JOHN DEERE BANK (SA)
UK BRANCH (3)
10 years from 20/07/2015 (4) £60,000 (5) 20/07/2015
(19/07/2025)
John Deere House Second Office
244.73 sq m
(2,634 sq ft)
VACANT POSSESSION      
Totals    
1,563.40 sq m
(16,828 sq ft)
    £109,162  

(1) Established in Gloucester in 1977, BABTAC is the premier UK association for beauty, hair, holistic and sports therapies. They are ‘not for profit’ and their main concerns are the well-being of their members, regulation of the industry and public welfare. (Source: www.babtac.com 25/09/2015)
(2) Nuvia is a leading international engineering, project management and services provider to the highly regulated nuclear, defence, oil and gas, and science and
research industries. Nuvia Group benefits from being part of Soletanche Freyssinet, a world leader in specialised civil and geotechnical engineering, and a wholly
owned subsidiary of VINCI, the world’s largest integrated concessions and construction group. (Source: www.nuvia.co.uk 25/09/2015)
(3) John Deere was founded in 1837. The company is best known for their quality agricultural and turf equipment, farm equipment, forestry equipment and construction equipment. John Deere Financial is one of the largest equipment finance companies. (Source: www.deere.co.uk 25/09/2015). The tenant has been occupying the property since 2005.
(4) The lease to John Deere is subject to conditional tenant options to determine on 20th July 2018 and 20th July 2021, subject to 12 months notice. Should the tenant exercise its option to determine on 20th July 2018 a penalty of £40,000 will be payable. Should the tenant exercise its option to determine on 20th July 2021 a penalty of £26,000 will be payable. Under the agreement for lease, the seller agreed to undertake a programme of refurbishment works, the works are due to complete prior to completion of the sale. Please see legal pack for further information.
(5) Under the terms of the lease, during the first year of the term the tenant is to benefit from a concessionary rent of £44,625 p.a.x,. The seller has agreed to adjust the completion monies so that the property will effectively produce £60,000 p.a.x from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    30.09.15
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Ashfords LLP Tower Wharf, Cheese Lane
Bristol
BS2 0JJ
Laura Birrell 0117 321 8012l.birrell@ashfords.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now