Retail premises for sale in High Street, Stroud, Glos GL5

Location

The property is situated at the upper end of Stroud High Street, on an improved retail pitch. It is a popular location for the independent retailers and traders benefitting from the close proximity of the town’s farmers market and Shambles market as well as the Cornhill Shopping Centre.

Stroud is the third largest town in Gloucestershire with a population of approximately 40,000. The town is convenient to the other larger centre of Gloucester, Cheltenham, Bristol, Bath and Swindon. In addition, Stroud benefits from excellent road links with M4 and M5 easily accessible with J13 of the M5 at Stonehouse and J18 of the M4 accessed via the A46.

Description

The property comprises of a substantial Landmark period building that provides three self-contained retail units on the ground floor of a Grade II Listed building. We understand the property was renovated and restored in the 1980s by the Stroud Preservation Trust who have retained the freehold interest in order to protect the Covenants which are designed to respect the heritage of the building into perpetuity.

Tenure

The property interest being sold is the residue of a 999 year lease for the whole property. The two flats on the upper floors have been sold by way of 125 year leases, each contributing £50 per month to the management company with each shop also paying £50 per month towards the costs of maintain the building.

Tenancy schedule

Address Sq ft M₂ Rent Term
32 High Street 546 50.8 £6,000 p.a. 5 years from 24/1/23
33 High Street 620 57.6 £11,000 p.a. Rising to £12,000
in Yr 2 5 years from 1/10/23
33a High Street 683 63.5 £9,000 p.a. Rising to £9,600
In Yrs 4 and 5 5 years from 1/8/22

EPC

An EPC is available for the retail unit of No 33 and can be found via the following link:- (the other retails units will be available following their EPC assessments) :-

Proposal

Offers are invited based upon a quoting price of: £325,000, (Subject to Contract) for the long leasehold interest and a purchase at this level reflects a net initial yield of 7.7% allowing for purchasers costs of 3.6%.