Entirely let to A-Plan Holdings t/a Howden Insurance
New 15 year lease from September 2024 (subject to option at year 10)
Rebased rent
Tenant recently relocated and spent over £540,000 on new fit out/refurbishment
Approx. 449.07 sq m (4,832 sq ft) over ground, first and second floors
Neighbouring occupiers include M&S, ASDA, Primark, Waterstones, H&M, McDonalds, Pure Gym, JD Sports and Starbucks
Lot 4
Auction 15th May 2025
Rent £42,500 per Annum Exclusive
Status Sold
Price £600,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
9 miles west of Cheltenham
Roads
A38, A40, A417, M5 (J11A)
Rail
Gloucester Train Station
Air
Bristol Airport
Situation
The property occupies a prime location on the north side of the pedestrianised Eastgate Street, the primary retailing thoroughfare in the heart of Gloucester City Centre close to its junction with Northgate, Southgate and Westgate and close to The Eastgate Shopping Centre and King's Walk Arcade. Neighbouring occupiers include M&S, ASDA, Primark, Waterstones, H&M, McDonalds, Pure Gym, JD Sports and Starbucks.
Tenure
Freehold.
Location
Miles
9 miles west of Cheltenham
Roads
A38, A40, A417, M5 (J11A)
Rail
Gloucester Train Station
Air
Bristol Airport
Situation
The property occupies a prime location on the north side of the pedestrianised Eastgate Street, the primary retailing thoroughfare in the heart of Gloucester City Centre close to its junction with Northgate, Southgate and Westgate and close to The Eastgate Shopping Centre and King's Walk Arcade. Neighbouring occupiers include M&S, ASDA, Primark, Waterstones, H&M, McDonalds, Pure Gym, JD Sports and Starbucks.
Tenure
Freehold.
Description
The property comprises a recently re-fitted and well proportioned shop arranged over the ground, first and second floors.
VAT
VAT is applicable to this lot.
EPC
C71
Description
The property comprises a recently re-fitted and well proportioned shop arranged over the ground, first and second floors.
VAT
VAT is applicable to this lot.
EPC
C71
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (3)
Floor Areas Approx sq ft (3)
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
Retail Ancillary Ancillary
157.40 171.67 120.00
(1,694) (1,847) (1,291)
A-PLAN HOLDINGS t/a Howden (1)
15 years from 11/09/2024 (2)
£42,500 (2)
11/09/2029 11/09/2034
Total
449.07
(4,832)
£42,500
(1) For the year ending 30/09/2023 A-Plan Holdings reported a turnover of £163,775,019, a pre-tax profit of £43,673,457 and a net worth of £141,154,018 (NorthRow 07/04/2025). (2) The tenant is benefitting from a rent-free period expiring September 2025. The seller will 'top-up' the rent from completion of the sale until the end of the rent free period. The lease provides for a tenant option to determine on 11/09/2034. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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