10 Northgate Street
Gloucester
Gloucestershire
GL1 1SE

Pedestrianised Town Centre Freehold Retail Investment

  • Pedestrianised City Centre Location
  • Diagonally opposite TK Maxx & HSBC
  • Let to Telefonica UK limited
  • Comprises 5,069 sq ft
  • 2020 Break NOT exercised
  • Lot
    30
  • Auction
    28/Oct/2020
  • Rent
    £37,650 per Annum Exclusive
  • Status
    Sold
  • Price*
    £236,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Auction & Property Update
  • 10 Northgate Street<br>Gloucester<br>Gloucestershire<br>GL1 1SE
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* More information on the term "price" can be found here

Property Information

Location
Miles
8 miles south-west of Cheltenham
29 miles south of Worcester
35 miles north-east of Bristol
Roads
M5 (Junction 11, 11A and 12), A430, A38
Rail
Gloucester Railway Station
(London Paddington 1 hour 55 minutes)
Air
Bristol Airport
Situation

The property is located in the heart of Gloucester City centre on the pedestrianised Northgate Street close to its junction with Eastgate & Westgate streets.
Eastgate & Kings Walk shopping centres and associated car parking are close by. Gloucester Cathedral is 250 metres to the north and Gloucester railway is 400 metres to the east. Nearby occupiers include Pandora, HSBC,
TK Maxx, Costa, McDonalds, B&M, Yorkshire Bank and Sports Direct.

Tenure

Freehold.

Description

The property comprises a ground floor shop with 3 floors of ancillary accommodation above.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

Band D See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
Ground
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
204.85 sq m
180.46 sq m
42.82 sq m
42.82 sq m
(2,205 sq ft)
(1,942 sq ft)
(461 sq ft)
(461 sq ft)
Telefonica UK
Limited (t/a 02)
(1)
5 years from
24/10/2017 on a full
repairing and insuring
lease (2)
£37,65032/10/2022
Total
470.95 sq m
(5,069 sq ft)   £37,650 

(1) For the year end 31/12/2019 Telefonica UK Limited reported a Turnover of £5,976,000,000 Pre-tax profits £765,000,000 and Shareholder Funds £2,649,000,000 (Source: SmartSearch 2/10/2020)
O2 is a mobile network operator and the principal commercial brand of Telefnica UK Limited, which is part of the global telecommunications group Telefnica S.A. (Website www.o2.co.uk)
(2) Tenants option to determine 23rd October 2020 NOT exercised.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    26.10.20
    File Size
    16 MB
    Login to View
  • Catalogue Page
    Updated Date
    07.10.20
    File Size
    5 MB
    View PDF
  • Site Plan
    Updated Date
    07.10.20
    File Size
    887 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Walker Morris LLP
Lucy Elsom 0113 283 4524lucy.elsom@walkermorris.co.uk

Useful Links

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