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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.
Tenure
Freehold
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. The lease includes a clause stating that the net rent cannot reduce from year-to-year.
Onebeyond Retail Limited
Rent