Prime Multi Let Industrial Investment, Barnett Way, Barnwood, Gloucester, GL4 3RT

Prime Multi Let Industrial Investment

- Prominently situated in the established mixed commercial location of Barnwood on the north east edge of the Gloucester city centre, only 2 miles from junction 11a of the M5.
- A detached modern industrial property divided into two self-contained units of 38,976 sq ft GIA, with a maximum eaves height of circa 8m.
- Unit 1 totals 20,249sq ft and is let to Rolls Royce Plc until 16 September 2026 at a rent of £XXX per annum (£XXX psf), the next rent review on 17 September 2021.
- Unit 2 totals 18,727 sq ft and is let to Ruroc Ltd until 25 June 2028 with a tenants break on 26 June 2023 on a basis of a stepped rent of £XXX per annum (£XXX psf) rising to £XXX per annum in the fourth and fifth years of the lease equating to £XXX psf.
- The passing rent is £XXX per annum equating to a low overall rent of £XXX psf.
- A WAULT of 8.43 years to lease expiries and 5.95 years to break options.
- Freehold.
- There is significant tenant demand from industrial occupiers in Gloucester due to the lack of modern industrial accommodation.
- There are currently no industrial vacancies in the immediate vicinity.
- We are instructed to seek offers in excess of £XXX (Three Million Four Hundred and Sixty Thousand Pounds) for the freehold interest reflecting a Net Initial Yield of 6.25% and a potential Revisionary Yield of 6.75%.