Units B1 - B6, Whittle Square Gloucester Gloucestershire GL3 4AA

Units B1 - B6, Whittle Square
Gloucester
Gloucestershire
GL3 4AA

Modern Retail Parade Investment

Tenants include Andrews Estate Agents Ltd, Badham Pharmacy Ltd, Barnardo’s and Beauty Spot
Located on Gloucester Business Park, adjoining 90,000 sq ft Tesco Extra
Nearby occupiers include Virgin Active, Costa Coffee, Subway, Ladbrokes,Premier Inn and Greggs
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
61
Auction
22nd October 2015
Rent
£98,000 per Annum Exclusive
Status
Sold
Price
£1,210,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update

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Modern Retail Parade Investment

Tenants include Andrews Estate Agents Ltd, Badham Pharmacy Ltd, Barnardo’s and Beauty Spot
Located on Gloucester Business Park, adjoining 90,000 sq ft Tesco Extra
Nearby occupiers include Virgin Active, Costa Coffee, Subway, Ladbrokes,Premier Inn and Greggs
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 61
Auction 22nd October 2015
Rent £98,000 per Annum Exclusive
Status Sold
Price £1,210,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 7 miles south west of Cheltenham,14 miles north-west of Cirencester, 38 miles north of Bristol
Roads: M5, A417
Rail: Gloucester Railway Station
Air: Gloucestershire Airport, Bristol Airport

Situation

Located between Gloucester and Cheltenham, Gloucester Business Park provides easy access to the M5 motorway and the A417 dual carriageway. The Park provides employment to some 5,000 workers and is home to a number of occupiers including a 90,000 sq ft 24-hour Tesco Extra, Virgin Active, Brewers Fayre Public House, Costa Coffee, Subway, Premier Inn, Ladbrokes and Greggs. A proposed residential development is due to be built some 100 metres from the property providing approximately 145 houses.

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Location

Miles: 7 miles south west of Cheltenham,14 miles north-west of Cirencester, 38 miles north of Bristol
Roads: M5, A417
Rail: Gloucester Railway Station
Air: Gloucestershire Airport, Bristol Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises four ground floor retail units which adjoin the Tesco Extra, forming part of a larger building.

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

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)
B1-B2	Ground	Retail	75.44 sq m	(812 sq ft)	ANDREWS ESTATE AGENTS LTD (1)	10 years from 25/03/2014 until 24/03/2024	£18,000	24/03/2019
B3	Ground	Retail	131.92 sq m	(1,420 sq ft)	BADHAM PHARMACY LTD (2)	15 years from 21/03/2011 until 20/03/2026 (3)	£30,000	21/03/2016 and 21/03/2021
B4- B5	Ground	Retail	175.96 sq m	(1,894 sq ft)	BARNARDO’S (4)	10 years from 14/11/2013 until 13/11/2023	£33,000	14/11/2018
B6	Ground	Retail	93.09 sq m	(1,002 sq ft)	THE BEAUTY SPOT (GLOUCESTER) LIMITED (5)	10 years from 04/08/2015 until 03/08/2025 (6)	£17,000 (7)	04/08/2020
Totals			476.41 sq m	(5,128 sq ft)			£98,000

(1) For the year ending 31st December 2014, Andrews Estate Agents Limited reported a turnover of £20.522.228, pre-tax profits of £609,646 and a total net worth of £4,462,624. (Source: www.riskdisk.com 16/09/2015)
(2) For the year ending 31st March 2014, Badham Pharmacy Limited reported a turnover of £12,244,979, pre-tax profits of £1,005,084 and a total net worth of £2,761,288. (Source: www.riskdisk.com 19/09/2015)
(3) The lease to Badham Pharmacy Ltd provides an option to determine on 21st March 2021.
(4) Founded in 1866, Barnardo’s is the UK’s largest children’s charity, running over 900 services with more than 500 shops, over 8,000 staff and some 15,000
volunteers. (Source: www.barnardos.org.uk 16/09/2015)
(5)The Beauty Spot is a state of the art tanning and beauty salon, offering a first class beauty experience. (Source: www.beautyspotglos.com 16/09/2015)
(6)The lease to The Beauty Spot (Gloucester) Limited provides an option to determine on 4th August 2020. The tenant has provided a rental deposit of £10,200.
(7)The current rent for Unit B6 is £8,560 p.a. due to increase to £17,000 from 3rd August 2016. The Seller has agreed to adjust the completion monies so that the unit effectively produces £17,000 p.a. from completion of the sale.