Units 1, 2 and 3 , Eastern Avenue (A38) Gloucester Gloucestershire GL4 3BU

Units 1, 2 and 3 , Eastern Avenue (A38)
Gloucester
Gloucestershire
GL4 3BU

Freehold Retail and Tyre Depot Investment

Let to Kwik-Fit Properties Limited until 2022 and DP Realty Limited (t/a Domino’s) on a 20 year lease from 2015
Located opposite Gloucester Retail Park
Approximate site area of 0.45 hectares (1.17 acres)
Nearby occupiers include IBIS Hotel, The Range, Magnet and Halfords
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
30
Auction
16th February 2017
Rent
£130,830 per Annum Exclusive
Status
Sold
Price
£1,860,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Tyre Depot Investment

Let to Kwik-Fit Properties Limited until 2022 and DP Realty Limited (t/a Domino’s) on a 20 year lease from 2015
Located opposite Gloucester Retail Park
Approximate site area of 0.45 hectares (1.17 acres)
Nearby occupiers include IBIS Hotel, The Range, Magnet and Halfords
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 30
Auction 16th February 2017
Rent £130,830 per Annum Exclusive
Status Sold
Price £1,860,000
Sector
Retail Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 8 miles south-west of Cheltenham, 14 miles north-west of Cirencester, 35 miles north-east of Bristol
Roads: M5, A40, A38, A417
Rail: Gloucester Railway Station
Air: Gloucestershire Airport, Bristol Airport

Situation

The property is situated on the west side of Eastern Avenue at its junction with Northbrook Road within Gloucester's core retail warehouse location, approximately 1 mile east of the city centre. The property is situated adjacent to McDondald’s and opposite Gloucester Retail Park. Nearby occupiers include IBIS Hotels, Magnet and Halfords.

Tenure

Freehold.

Location

Miles: 8 miles south-west of Cheltenham, 14 miles north-west of Cirencester, 35 miles north-east of Bristol
Roads: M5, A40, A38, A417
Rail: Gloucester Railway Station
Air: Gloucestershire Airport, Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises a prominent modern retail site of approximately 0.45 hectares (1.17 acres) with a drive through McDonalds unit, a Kwik Fit tyre depot and a retail unit which has been separated into two units. The property benefits from planning consent for A1 Bulky Goods and car parking for approximately 30 cars.

VAT

VAT is applicable to this lot.

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.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Unit 2	Motorist Centre	430.97 sq m	(4,639 sq ft)	KWIK-FIT PROPERTIES LIMITED (1)	25 years from 23/06/1997	£69,330	23/06/2017 (22/06/2022)
Unit 3	Retail	371.00 sq m	(3,993 sq ft)	DP REALTY LIMITED (t/a Domino’s) (2) (3)	20 years from 12/11/2015 until 2035	£61,500	2020 and 5 yearly
Unit 1	Retail	Not Measured		MCDONALD’S PROPERTY COMPANY LIMITED	125 years from 16/08/1996	Peppercorn
Total (Units 2 & 3) Area		801.97 sq m	(8,632 sq ft)			£130,830

(1) The principal activity of Kwik-Fit Properties Limited is holding and managing of properties on behalf of other group companies. For the year ending 31st March 2016, Kwik-Fit Properties Limited reported pre-tax profits of £131,000 and a total net worth of £2,222,000 (Source www.experian.com 16/01/2017) Kwik Fit operate from over 600 centres in the UK (Source: www.kwikfit.com).
(2) For the year ending 27th December 2015, DP Realty Limited reported a turnover of £18,963,776, pre-tax profits of £687,601 and a total net worth of £922,729 (Source www.experian.com 16/01/2017).
(3) As to Unit 3 the tenant has sublet the property to KL Ventures Limited, a franchisee company, for a term of 20 years from 12/11/2015 to 11/11/2035.