Commercial property for sale in Eastgate Street, Gloucester GL1
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Prime, High Yielding Retail Investment
- Let to Onebeyond Retail Limited
- Net Rent Approx. £98,000 per annum
- Approximately Four Years Unexpired
- Tenant Option to Renew for Five Years
- 13,154 sq ft (1,222 sq m)
- Established and Popular Location
- Net Rent Reflects 19.5% on Guide Price
Property description
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
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.