Commercial property for sale in Eastgate Street, Gloucester GL1

Strapline

Auction Sale - 24/01/2024

Of Interest to Investors

Prime, High Yielding, Retail Investment

Fully Let to Onebeyond at a Gross Rent of £164,823 per annum with Approx. Four Years Unexpired

Description

The property comprises a high yielding retail investment situated on the principal retail street in Gloucester.

Arranged across ground, first and second floors, the property is let in its entirety to Onebeyond Retail Limited producing a gross rent of £164,823. The lease is for a term of five years expiring 28/09/2027 and includes a tenants option to renew for a further five years.

The lease provides for a reduction in rent to reflect the business rates payable on the property. We therefore understand the current rent receivable is £97,751 per annum.

The property benefits from a prominent frontage to Eastgate Street; the principal, pedestrianised, retail street in Gloucester.

Tenancy

The property is let in its entirety to Onebeyond Retail Limited producing a gross rent of £164,823. The lease is for a term of five years expiring 28/09/2027 and is on full repairing and insuring terms. The lease also includes a tenants option to renew for a further five years.

Whilst the Gross Rent is £164,823 per annum, the lease allows for a reduction in rent equivalent to the business rates payable. We therefore understand the current net rent receivable is £97,751 per annum

Onebeyond Retail Limited

• D&B Rating - 2A3
• Turnover (2023) - £103,469,271
• Pre-Tax Profit (2023) - £1,622,552
• Employees - 1,313