8 Northgate Street Gloucester Gloucestershire GL1 1SE

8 Northgate Street
Gloucester
Gloucestershire
GL1 1SE

  • 8 Northgate Street<br>Gloucester<br>Gloucestershire<br>GL1 1SE

Pedestrianised City Centre Freehold Retail Investment

  • Pedestrianised City Centre Location
  • Diagonally opposite TK Maxx & HSBC
  • New 5 Year Lease with NO Breaks
  • Future Redevelopment Potential, subject to consents
  • Lot
    37
  • Auction
    13/Dec/2021
  • Rent
    £20,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £170,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

* 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.

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 not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions and the current tenancy. Interested Parties are referred to Gloucester Council - www.gloucestershire.gov.uk

Completion Period

6 week Completion

EPC

Band C. See Legal Pack at www.acuitus.co.uk

Description

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

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to necessary consents/permissions and the current tenancy. Interested Parties are referred to Gloucester Council - www.gloucestershire.gov.uk

Completion Period

6 week Completion

EPC

Band C. See Legal Pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)
Tenant Term Rent p.a.x Review
Ground
First
Second
Third
Retail
Ancillary
Ancillary
Ancillary
54.09 sq m
36.33 sq m
32.40 sq m
32.09 sq m
(690 sq ft)
(390 sq ft)
(348 sq ft)
(356 sq ft)
INDIVIDUAL
WITH
GUARANTOR t/a
Fone Square (1)
5 years from
12/05/2021 on a full
repairing & insuring
lease
£20,000 (1) (2) 12/05/2024
Total
154.91 sq m
(1,784 sq ft)
    £20,000  

(1) The tenant is paying half rent for year one to 11/05/2022. The seller will make an allowance from completion of the sale to the expiry of the concessionary rental period, so that the property produces £20,000 per annum.
(2) Rent Deposit of £6,000 held.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+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

  • Catalogue Page
    Updated Date
    23.11.21
    File Size
    724 KB
    View PDF
  • Site Plan
    Updated Date
    23.11.21
    File Size
    921 KB
    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

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Seller's Solicitors
Walker Morris LLP Kings Court , 12 King St
Leeds
LS1 2HL
Clare Wood 0113 399 1931clare.wood@walkermorris.co.uk

Useful Links

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

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