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
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.
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
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.
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.
