Cedar House Spa Road Gloucester Gloucestershire GL1 1XL

Cedar House
Spa Road
Gloucester
Gloucestershire
GL1 1XL

Freehold Government Let Office Investment with Residential Prior Approval

Let to the Secretary of State for Communities and Local Government (t/a JobCentre Plus)
Prior Approval Granted for Change of Use from Office to 45 Flats
Approximately 3,338.10 sq m (35,931 sq ft)
Site area of 0.37 hectares (0.91 acres) with a site coverage of 24.59%
800m South of Gloucester City Centre and 350m East of Gloucester Docks
Nearby the Gloucester Quays Shopping with occupiers such as Boots, Marks and Spencer, Travelodge, H.Samuel, Mountain Warehouse, ASICS, LEVI Jeans, Five Guys, Wagamama and AllSaints

Lot
12
Auction
9th May 2024
Rent
£330,000 per Annum Exclusive
Status
Available
Guide*
£2,950,000
Sector
Office
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

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Freehold Government Let Office Investment with Residential Prior Approval

Let to the Secretary of State for Communities and Local Government (t/a JobCentre Plus)
Prior Approval Granted for Change of Use from Office to 45 Flats
Approximately 3,338.10 sq m (35,931 sq ft)
Site area of 0.37 hectares (0.91 acres) with a site coverage of 24.59%
800m South of Gloucester City Centre and 350m East of Gloucester Docks
Nearby the Gloucester Quays Shopping with occupiers such as Boots, Marks and Spencer, Travelodge, H.Samuel, Mountain Warehouse, ASICS, LEVI Jeans, Five Guys, Wagamama and AllSaints

Lot 12
Auction 9th May 2024
Rent £330,000 per Annum Exclusive
Status Available
Guide* £2,950,000
Sector
Office
Auction Venue
Live Streamed Auction
On Behalf of a Major Fund

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 situated on Spa Road, just 800m south of Gloucester City Centre and within 350 metres of the historic Gloucester Docks - the city’s major regeneration area. The immediate locality of the property is a mix of Residential and Commercial property with the Gloucester Quays Shopping centre close by including occupiers such as Boots, Marks and Spencer, Travelodge, H.Samuel, Mountain Warehouse, ASICS, LEVI Jeans, Five Guys, Wagamama and AllSaints.

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

Tenure

Freehold.

Description

Cedar House is a substantial office building with office accommodation in two wings on the ground, first, second, third and fourth floors. The property benefits from two 8-person passenger lifts and Undercroft and surface car parking for approximately 103 cars.

The property has a site area of approximately 0.37 hectares (0.91 acres) with a site coverage of 24.59%

VAT

VAT is applicable to this lot.

Planning

Prior approval was granted by The Planning Inspectorate on appeal on 7th December 2022 under Appeal Reference APP/U1620/W/22/3302265 (Planning ref 21/00825/JPA) for a change of use from Offices (Class B1) to Dwellings (Class C3)/45 Flats (www.gloucester.gov.uk).

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Planning

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review (Reversion)
Ground First Second Third Fourth	Office Office Office Office Office	335.60 750.00 744.50 750.90 757.10	(3,612) (8,073) (8,014) (8,083) (8,149)	SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT (t/a JobCentre Plus) (2)	10 years from 1st April 2018	£330,000	1st April 2023 (31st March 2028)
Total Approximate Floor Area		3,338.10	(35,931)			£330,000

(1) The floor areas stated above have been taken from the Valuation Office Agency (https://www.gov.uk/find-business-rates)

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.