Office for sale in London Road, Stroud, Glos GL5

Location

The property is situated on the southern side of London Road, being adjacent to Clarendon Court and within a small terrace including estate agents and professional offices.

Stroud is the third largest town in Gloucestershire having a demographic catchment of approximately 105,000 people. The town has the advantage of a main line railway station to London Paddington. In addition, Stroud is on the crossroads of the A46 and A419 with excellent access to both the M5 and M4 and the nearby centres of Cheltenham, Gloucester, Bath, Bristol and Cirencester.

Description

The property which is mid-terraced is of traditional construction, having a mixture of stone and brick, rendered to the front elevation and exposed brick to the rear, all under a timber framed roof covered with slates. It is noted the building is at the end of an original terrace but is 'attached' to Clarendon Court (No 54) a 1970's mixed use building.

The accommodation comprised two elements, namely commercial to the ground and lower ground floor plus a residential flat to the first and second floors.

Accommodation (all areas, where quoted, are approximate).
Description Sq ft M₂
Ground floor comprising: Showroom/offices 456 42.4
Lower ground floor comprising: 2 rooms/WCs 188 17.5
Total 644 59.9

 

The Residential accommodation comprises:-
First Floor
Lounge 13'4” x 12'7” 167 sq ft
Dining room 11' x 11'0” with modern fitted fireplace and 129 sq ft
built-in storage unit
Kitchen 8'1” x 8'0” with airing cupboard (housing Sadia 65 sq ft
water heater) and door to
Shower room with white WC, pedestal wash hand basin and shower cubicle with Leisure shower head 361 sq ft
Second Floor
Bedroom 1 11'10” x 10'0” with cupboards in alcoves 118 sq ft
Bedroom 2 13'0” x 8'6” with modern tiled fireplace 110 sq ft
Bedroom 3 9'6” x 7'4” 70 sq ft
298 sq ft

Outside
A sizeable garden (approx. 60'0” deep x 24'0” wide) with access to service yard adjacent to Brunel Mall (see later note) and is suitable for redevelopment to provide possibilities for residential building and/or car parking (subject to planning).

Services

All mains services are connected or available.

Ratings

The commercial space is occupied by Hamptons International in conjunction with number 52 London Road. Accordingly, the tenant's space is rated as one hereditament for 52/53 London Road at a Rateable Value in 2021/2022 believed to be £9600.
The flat is currently unlisted for Council Tax purposes.

Interested parties are advised to make their own enquiries to the billing authority to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the rating assessment.

Tenure

The property is being sold with the benefit of the original lease between the freeholder and the tenant (Hamptons Residential). The original lease dated 10 October 1989 was subsequently renewed by way of an agreement dated 5 June 2002 in respect of the same tenant thus named as Hamptons Estates Ltd. That extension has now lapsed and as such the tenant is 'holding over' paying the annual rent of £10,000 p.a. Negotiations took place with the tenant based upon £11,200 p.a. But that figure has not been confirmed by a new lease. Moreover the negotiations included reference to the removal of the internal staircase to the flat and with that existing space to be incorporated into the commercial space resulting in an increase in the rent to £12,000 p.a. Again these 'discussions' have not progressed as it is felt sensible for the new owner to bring forward a scheme to restore the flat probably in conjunction with some form of redevelopment to the garden which could include a new external access point to the first floor. All of these possibilities are described subject to normal planning consideration.

Note: Access to the flat is via the office premises and/or a separate (internal) staircase which is approached through the lower ground floor area of Hampton's office.

EPC

The property does not require an EPC rating as it is a Listed Building.

Freehold price

Offers invited for the whole property based upon guide price of: £400,000, Subject to Contract.

Alternatively, the Vendor will consider splitting the freehold interest with the 53 London Road property offered at £275,000 and with the 'garden' as a building plot at £150,000, Subject to Contract and clarification on demarcation and service provision.