- Cheltenham is an affluent South West commercial centre with a strong economy and excellent regional connectivity, including easy access to the M5 via Junctions 10 and 11;
- Situated on Kingsditch Trading Estate, Cheltenham’s premier industrial and trade location;
- Well configured multi-let estate comprising 10 industrial units, extending to approximately 73,950 sq ft with unit sizes ranging from 7,092 - 13,916 sq ft;
- Situated on a 3.91 acre site providing a low site coverage of 43%;
- Let to 7 tenants including Superdry, EVRI and Soho Coffee;
- Strong covenant mix with 44% of income received from CreditSafe ‘A’ tenants and 34% from ‘B’;
- Highly attractive WAULT of 5.8 years to lease expiries and 4.1 years to break;
- Total passing rent of £590,399 per annum, reflecting a low average rent of £8.85 per sq ft;
- 78% of leases contracted outside of the ‘L&T 1954 Act’;
- Opportunity to add value through active asset management, at pending lease events and leasing the vacant unit;
- Freehold.
Offers are invited in excess of £7,900,000 subject to contract and exclusive of VAT.
A purchase at this level would reflect a Net Initial Yield of 7.00% with a Running Yield of 7.98% by the end of 2026, after allowing for purchaser’s costs of 6.67%. This reflects a capital value figure of £107 per sq ft.
