No longer on the market
This property is no longer on the market
Map
Area statsIndustrial development
Industrial development
2084
Features and description
- PRICE REDUCED TO £300,000 at this level reflects a gross yield of 8.33% and a net yield of 8.09% after purchasers costs of 3%.
- Tenancy in place.
- Refurbished to a high standard.
- Restaurant with fully fitted commercial kitchen.
- Kitchen includes extraction equipment.
- Rear entrance off Bull Lane.
The property is a mid-terrace building with accommodation over 2 floors. It has been refurbished to a high standard throughout to provide a restaurant with a fully fitted commercial kitchen including extraction equipment, seating areas on both the ground and first floors with ancillary storage, an office and WC facilities.
All of the services have been upgraded and the property has been finished to a high specification throughout. The retail unit has a fully glazed frontage and is accessed off Westgate Street with an entrance to the rear off Bull Lane.
TENANCY
The property is let to Hieu Van Pham, Dat Hong Nguyen & Nguyen Quang Auh for a period of 5 years from 9th November 2021 at a rent of £25,000 per annum on a full repairing and insuring basis. The lease includes a rent review and break clause on the 3rd anniversary of the term. The lease includes a summary of the equipment that belongs to the landlord.
The property is situated in a prominent position on Westgate Street within close proximity of the Cathedral and approximately 100m from Gloucester Cross, which is traditionally regarded as the City centre. Occupiers in the immediate area include McDonalds, The Works, Coventry Building Society and a range of local businesses. Gloucester is well connected to the motorway network, being served by three junctions of the M5; junction 11 provides access via the A40 (3 miles), junction12 to the south (5 miles) and junction 11a (3 miles) connects to the Brockworth Bypass, Cirencester/Swindon and the M4 motorway at junction 15 (34 miles).
All of the services have been upgraded and the property has been finished to a high specification throughout. The retail unit has a fully glazed frontage and is accessed off Westgate Street with an entrance to the rear off Bull Lane.
TENANCY
The property is let to Hieu Van Pham, Dat Hong Nguyen & Nguyen Quang Auh for a period of 5 years from 9th November 2021 at a rent of £25,000 per annum on a full repairing and insuring basis. The lease includes a rent review and break clause on the 3rd anniversary of the term. The lease includes a summary of the equipment that belongs to the landlord.
The property is situated in a prominent position on Westgate Street within close proximity of the Cathedral and approximately 100m from Gloucester Cross, which is traditionally regarded as the City centre. Occupiers in the immediate area include McDonalds, The Works, Coventry Building Society and a range of local businesses. Gloucester is well connected to the motorway network, being served by three junctions of the M5; junction 11 provides access via the A40 (3 miles), junction12 to the south (5 miles) and junction 11a (3 miles) connects to the Brockworth Bypass, Cirencester/Swindon and the M4 motorway at junction 15 (34 miles).
Property information from this agent
Area statistics
Crime score
High crime
10/10
About this agent
Ash Chartered Surveyors - Gloucestershire
3 Pullman Court, Great Western Road
Gloucestershire
GL1 3ND
01452 679041ASH was established in 1989 and is a leading independent practice acting for clients throughout Gloucester, Cheltenham, the Stroud Valleys, Tewkesbury, the Forest of Dean and the Cotswolds. The practice is professional, personal and partner led and regulated by the Royal Institute of Chartered Surveyors. We deliver a multi disciplined service offering clients unrivalled local expertise on all types of property advice. Each instruction is managed by committed partners with years of experience, which means clients receive dedicated personal service alongside detailed property knowledge and regional expertise. ASH acquired the Cheltenham based practices, Horsleys and SPA in 2013 and 2017 respectively and has an office in Cheltenham for the convenience of clients.