From
£500,000
Property for saleEastgate Street, Gloucester GL1
Auction
About this property
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
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
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
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Monthly repayment
£2,501 per month
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