1-2 Barnwood Industrial Estate, Gloucester_Property for Sale

Barnett Way, Gloucester, Gloucestershire, GL4 3RT, UK

1-2 Barnwood Industrial Estate, Gloucester

Asset Description

The property, accessed directly from Barnett Way, comprises a detached terrace forming two modern industrial units of a steel portal frame construction arranged under a profile metal sheet roof.

Each unit is accessed via high bay roller shutter metal doors, and benefits from a well configured yard area with demised external car parking spaces.

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Attributes

Building area net

3,621 m²

Occupancy

100%

WAULT

2.7 years

Asking price

IDR 72,227,120,000

Media

Investment Highlights

Prominently situated within Barnwood Industrial Estate which is an established mixed use commercial estate
The property is located to the east of Gloucester city centre, only 2 miles from junction 11A of the M5
A detached modern industrial property divided into two self-contained units totalling 38,976 sq ft GIA, with a maximum eaves height of circa 7m
Site area of 1.75 acres equates to a site coverage of 46%
WAULT of 2.69 years to expiry
Opportunity to capture reversion from an outstanding rent review and short WAULT
Current passing rent of £287,253 per annum, equating to a base rent of £7.37 per sq ft on the unit
Freehold

We are instructed to seek offers in the region of £3,500,000 (Three Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.71% (assuming purchaser’s costs of 6.50%), equating to a low capital value of £89.80 per sq ft