Bamfurlong Industrial Park, Staverton, Cheltenham, Gloucestershire, GL51

Guide price £1600000.00

• Situated on Bamfurlong Industrial Park, strategically located between Cheltenham and Gloucester.
• Modern warehouse unit totaling 8,114 sq ft with an additional rear extension comprising 1,986 sq ft (not rentalised).
• Large self contained yard on a site of 0.67 acres providing a low site cover of 28%.
• Unit recently fully refurbished to include a new roof and cladding.
• The property will be sold with a new 250 year lease at a peppercorn rent.
• Let to Avonmouth Engineering Services Ltd (Fame rated 74/100), with a guarantor from Hidrostal (GB) Ltd (Fame rated 89/100).
• Let on a 10 year lease expiring 24th October 2031, with an unexpired term of 8.46 years.
• Rent of £100,000 per annum, reflecting £10.25 per sq ft on the unit and £1.50 per sq ft on the additional yard.
• Upward only rent review on 25th October 2026.
• ERV at review of £114,100 per annum, reflecting £12.00 per sq ft on the unit and
£1.50 per sq ft on the additional yard.
• ERV at lease expiry of £131,300 per annum, reflecting £12.00 per sq ft on the unit and
rear extension and £1.50 per sq ft on the additional yard.
• Rents on Bamfurlong Industrial Park are in excess of £12.00 per sq ft for refurbished accommodation, with one unit currently under offer at £13.69 per sq ft.
• Capital value of £158 per sq ft is at a discount to the recent VP sale on the estate at £215 per sq ft.
• We are instructed to seek offers in excess of £1,600,000, reflecting a net initial yield of 5.84% and a reversionary yield of 7.67%, assuming purchaser's costs of 7.14%.

Situated approximately 3 miles to the west of Cheltenham town centre, Bamfurlong Industrial Park occupies a strategic location being only 2.5 miles to the north of Junction 11 of the M5 motorway at its intersection with the A40 which links Cheltenham and Gloucester.

The GCHQ campus is situated adjacent to the north eastern boundary a short distance to the east, and the estate lies immediately adjacent to the northeast boundary of Gloucester Airport. Bamfurlong Industrial Park is accessed directly via the B4063, and sits between Staverton Technology Park and Meteor Business Park.