302 and 303 Stonehouse Park, Sperry Way, Stonehouse, GL10 3UT

Description
The property comprises two adjoining, internally connected two-storey office buildings of brick construction with profile-clad detailing, set beneath a pitched tiled roof, and benefiting from double-glazed, powder-coated aluminium-framed windows and door entrances.

No.302 provides a ground floor entrance lobby, off which are located two WCs together with access to the reception area and main open-plan office. Stairs from the reception lobby lead to the first floor, which offers further open-plan office accommodation. The ground and first floor offices at No.302 are open to the adjoining No.303.

At ground floor level, No.303 provides an entrance lobby with a WC and shower room, together with access to the main open-plan office incorporating a kitchen and storeroom. Stairs from the lobby lead to the first floor, which similarly provides open-plan office accommodation with a side kitchenette.

In general, the office accommodation benefits from carpeted floor coverings, emulsion-painted walls and suspended acoustic-tiled ceilings with integral LED lighting, gas-fired central heating via radiators and air-conditioning units.

Three-compartment perimeter trunking provides routes for electrical, data and telephone cabling, and roller blinds are fitted to the windows.

Externally, the property benefits from a tarmacadam driveway and block-paved car parking area, providing approximately 22 allocated spaces.

TENANCY
The property is let to Tony Gee and Partners LLP on a 15-year full repairing and insuring lease from 5 May 2021 at a passing rent of £69,832 per annum. The lease incorporates tenant break options at every fifth anniversary, which coincide with upwards-only rent reviews. A rental increase to £82,302 per annum has been agreed with effect from 1 May 2026.

COVENANT
Founded in 1974, Tony Gee and Partners LLP is a well-established, consulting engineering practice with a strong reputation for delivering complex civil, structural and infrastructure projects across the UK and internationally.

The company has a credit limit of £2,000,000 and a contract limit of £14,500,000, and a risk score of 93, indicating a very low risk (source Creditsafe).

Location
The property is situated on the modern Stonehouse Park office development, a pleasant waterside location adjacent to the Stroudwater Canal. It lies approximately 1½ miles southwest of Stonehouse, 4 miles to the west of Stroud, 11 miles south of Gloucester, 20 miles south of Cheltenham, 17½ miles west of Cirencester and 28 miles north of central Bristol.

The property is situated approximately 2 miles east of Junction 13 of the M5 motorway and is located immediately off the A419, opposite the well established Stroudwater Business Park, where occupiers include Renishaw Plc, Schlumberger and Muller. Stonehouse has a mainline railway station with journeys to London Paddington taking approximately 1¾ hours.