Brearley Court is a modern development of terraced industrial units. Units 6 & 7 form the corner units fronting Baird Road, in a block of six light industrial units. The units are of steel portal frame construction with part profiled metal sheet clad and part brick elevations under a profile metal sheet roof with powder coated aluminium glazed doors and windows. The units are well specified with clear open span production/storage areas, with a height of approximately 5m to the underside of the haunch
Unit 6 has been converted to provide fitted showroom with a full height glazed entrance and mezzanine floor providing office and amenity space.
Unit 7 provides production/workshop space with loading access provided by a single up and over loading door. Externally, there is a yard fronting the units with designated parking together with loading access.
Location
Gloucester is the commercial and administrative centre of the County supporting a resident population of 110,000. The city is located 10 miles east of Cheltenham, 35 miles north east of Bristol, 55 miles south of Birmingham and 100 miles west of London. Gloucester has excellent communication links with the M5 motorway running immediately to the east of the city with access from Junctions 11a and 12. The A419 provides a dual carriageway link to Junction 15 of the M4 motorway at Swindon which is approximately 36 miles to the east.
The city also benefits from direct rail services to Bristol and London Paddington, with fastest journey times to Paddington of 1 hour 40 minutes. Gloucester provides an established distribution location with occupiers benefiting from the excellent motorway access to Bristol, Birmingham and London. Brearley Court is situated on Waterwells Business Park, an established distribution and office location approximately 1 mile north of Junction 12 of the M5, with access via the A38 dual carriageway and is approximately 3 miles to the south of Gloucester city centre.
Brearley Court is situated on Baird Road, just off Waterwells Drive, which is the principal estate road. Nearby occupiers include Gloucester Constabulary, DPD, Kohler Mira, Prima Dental and a Holiday Inn Express. There is also a park and ride facility at Waterwells providing direct access to Gloucester city centre with a regular shuttle servic
Accommodation
Ground Floor Industrial 462.43 Sq m ( 4,978 sq ft )
Ground Floor Office 459.74 sq m (4,949 sq ft )
First Floor Office 459.74 sq m (4,949 sq ft )
Terms
Tenure Freehold.
Tenancy The property is fully let on FRI terms to Direct Online Services Limited on a 10 year lease from 1st July 2018 expiring 30 June 2028, leaving approximately 3 years unexpired. The rent passing is £100,000 per annum, reflecting £6.72 per sq ft. The lease is contracted outside the act. The tenant owns and occupies the adjoining Units 8 & 9, as well as the opposing terrace.
Covenant Information Direct Online Services Limited (#06642691) is an e-commerce led omnichannel business serving the UK market, primarily through their flagship brand Worktop Express. In 2020, the company became part of the €1bn+ global materials division of Broadview Holding.
Energy Performance Certificate The property has the following EPC ratings: • Unit 6 – 70 C • Unit 7 – 44 B
VAT The property has been elected for VAT. We anticipate that the transaction will be treated as a transfer of a going concern (TOGC). Data Room Access to the data room is available on request.
Proposal Offers are sought in excess of £1,500,000 (One million five hundred thousand pounds) subject to contract and exclusive of VAT.
Specification
• Modern industrial investment in an established and successful business park
• Comprising end of terrace units totalling 14,875 sq ft
• Freehold
• Single let to Direct Online Services Limited until 30 June 2028
• Rent passing of £100,000pa (£6.72 per sq ft)
• Significant reversionary potential - ERV circa £10 per sq ft
• Tenant owns and occupies the adjoining and opposing units
• Seeking offers in excess of £1,500,000 (One Million Five Hundred Thousand Pounds)
• A purchase at this level would reflect 6.28% NIY with potential reversion to around 9.35% (allowing for purchaser’s costs at 6.10%) and capital value of £100 per sq ft