Industrial for sale in Unit 5300, Severn Drive, Tewkesbury Business Park, Tewkesbury GL20

The property lies within the regionally significant Tewkesbury Business Park on Severn Drive, very close to Junction 9 of the M5 motorway. The property is highly accessible to the Midlands, Worcester, Cheltenham, Gloucester and other parts of the country.

Severn Drive is situated off Northway Lane and Shannon Way. The property is situated on the corner of Severn Drive and the entrance to Miller Court office development of 10 buildings. Other occupiers in vicinity include Hydro, Severn Logistics, Duraflex and Jewson.

The historic town of Tewkesbury is a short distance to the West with a wide variety of amenities and services. Tewkesbury has been appointed ‘Garden Town’ status and can look forward to a sustained period of future growth.

Rail links are provided from Ashchurch Parkway (approx. 1 mile) and Inter-City services are available from both Cheltenham and Gloucester.

The building was Constructed about 18 years ago. A modern steel portal frame building with ground floor in concrete. Within the frame of the building is a two storey office section to the front elevation with wings down each flank wall. External elevations are in profile plastic coated cladding and double glazed windows. Two loading doors to eastern flank wall. Eaves height approximately 7.3 m (approximately 6.4 m to underside of steel haunch). Gas fired warm air blower heating in the warehouse.

Separate heating to the offices via a range of radiators.

Male & Female WC facilities located at ground and first floor levels.

Total site area approximately 0.482 hectare (1.19 acres) with significant rear part undeveloped and capable of extension or separate building, subject to obtaining the necessary statutory consents. Low site coverage of circa. 21.7%.

Floor areas - approx. Gross internal

Ground Floor: 1,056.67 sq m - 11,274 sq ft of which approximately 1,675 sq ft is reception and office accommodation.
First Floor: 295.44 sq m - 3,180 sq ft

Total 1,352 sq m - 14,554 sq ft

Sale & Leaseback - Subject to Contract

The proposed tenant is r-Tech Welding Equipment Ltd, specialists in providing welding machines and plasma cutters to the highest specifications and efficiency. Turnover averaging over £5 million for the last 4 years. Profit for the year averages over £460,000 for the last 4 years. Last 3 years accounts available on request.

Offers based on £1,550,000 for the freehold interest subject to a lease on terms set out below. Reflecting a net initial yield of 7.3% after allowing for normal purchaser’s costs. Risig to 9.1% after first rent review.

Lease terms - 12 year lease. Commencing rent £120,000 per annum exclusive of outgoings (reflecting £8.25 per sq ft). Rent reviews at years 5 and 10 to omv. First rent review to £150,000 pax or omv whichever higher. Fri subject to schedule of condition.

The price and rent will attract VAT.