WMB WE MOVE BIKES LTD, GREAT WESTERN ROAD, GLOUCESTER, GL1 3PZ - Reversionary single let industrial - LoopNet
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WMB
WE MOVE BIKES LTD,
GREAT WESTERN ROAD,
GLOUCESTER, GL1 3PZ
Reversionary single let industrial
investment opportunity
W E M O V E B I K E S LT D , G R E AT W E S T E R N R O A D , G L O U C E S T E R , G L1 3 P Z
Investment Summary
• The property is prominently situated fronting Great
Western Road accessed via London Road to the north
and Horton Road to the south and within 0.75 miles of
Gloucester City Centre.
• The property comprises a single warehouse extending
to 32,392 sq ft (3,009 sq m).
• The site extends to an area of 1.39 acres (0.56 ha),
which equates to a site density of 53%.
• Let to P.L Transport Limited T/A We Move Bikes Ltd
on an FRI lease expiring 19th June 2021, providing 2.06
years unexpired term certain.
• Yearly stepped rent topped up to 2020 level.
• Current rental income of £131,500 per annum,
reflecting £4.06 psf.
• Freehold.
Offers are sought in excess of £1,900,000 (One Million, Nine
Hundred Thousand Pounds) subject to contract and exclusive
of VAT. A purchase at this level reflects a Net Initial Yield of
6.50% based on purchaser’s costs of 6.28% and a capital
value of £59 per sq ft.
2
W E M O V E B I K E S LT D , G R E AT W E S T E R N R O A D , G L O U C E S T E R , G L1 3 P Z
Gloucester Royal Hospital (NHS)
Gloucester Royal Hospital (NHS)
Gloucester Royal Hospital (NHS)
Gloucester Royal Hospital (NHS)
Gloucester
Railway Station
Gloucester Royal Hospital (NHS) WE MOVE
BIKES LTD
10 Yetis PR Agency
Green Square
British Holiday & Home
Parks Association
Headway
Gloucestershire
Asda
P.L TRANSPORT LTD T/A WE MOVE BIKES LTD, GREAT WESTERN ROAD, GLOUCESTER, GL1 3PZ
3
A1(M)
HARTLEPOOL
MIDDLESBROUGH
M74 STOCKTON-ON-TEES
W E M O V E B I K E S LT D , G R E AT W E S T E R N R O A D , G L O U C E S T E R , G L1 3 P Z
SCARBOROUGH
Location HARROGATE Situation
Al
Oxfo
vin
d
Hyde
A1(M) YORK Cl
on R Hyde
St
Lond
rd S
Worcester St
Gloucester is a core administrative location approximately The property is prominently situated fronting Great
Blac
Ln
t
10 miles west of Cheltenham, 34 miles north BRADFORD
LEEDS
of Bristol and Western Road accessed via London Road to the north
Clar
k
Mayhi
56 miles south of Birmingham. It is situated adjacent to and Horton Road to the south and within 0.75 miles WE MOVE BIKES LTD ll Way
Dog
em
o nt
Rd
the M5 Motorway and has a population of approximately M62 of GloucesterKINGSTON City Centre.
UPON HULLGloucester Railway Station
Wa
135,000 people. M62 is located to the
SCUNTHORPE rear of the subject premises and the Gr
y
M61 ea
tW
BARNSLEY property
M180 lies within proximity of Gloucestershire Royal est
ern
l Dr
The city benefits from excellent road, rail and tram R o ad
MANCHESTER Hospital.
DONCASTER GRIMSBY
wel
connections. Gloucester is served by junctions 11,
LIVERPOOL
Gloucester Railway
Pillo
11a and 12 of the M5 motorway. In addition, the A419 The property is located less than one mile north of the W
ay
Gr
ea
provides a dual carriageway link to Junction 15 SHEFFIELD Eastern Avenue Trading Estate with nearby industrial
of the M4,
on
tW
St
ut
M56
es
er
Br
approximately 58 km (36 miles) to the south west. occupiers including Howdens Joinery, Screwfix Bell
ce
Br
t
nR
en
OLWYN BAY St oa
uto
ar
Tools and Levolux. Gloucester Retail Park is situated at Me d
Cl
io
Gloucester railway station provides a direct main line service Ru nR tz
Wa
nW
d
adjacent to Eastern Avenue and houses tenants ss
el
y
to major Western locations including both Cheltenham Spa l St
including B&M, The Range, Starbucks and Pure Gym.
ay
Ea
and Bristol Temple Meads and also major national train st
ga
WREXHAM NOTTINGHAM te
Rd
stations Birmingham New Street and London Paddington
STOKE-ON-TRENT Ha
St
n
rto
mp
with a fastest journey time to London of 1 hour 50 minutes. d
Ho
en
W
Birmingham International and BristolM6 Airports provide M1 ay
EAST MIDLANDS
access to well-known international and domestic locations.
TELFORD
M54 M42 LEICESTER PETERBOROUGH NORWICH
M1
BIRMINGHAM A1(M)
M6
COVENTRY
NORTHAMPTON
WORCESTER CAMBRIDGE
BEDFORD IPSWICH
M5
M40 MILTON KEYNES M11
COLCHESTER
LUTON STANSTED
CHELTENHAM STEVENAGE
GLOUCESTER
M5 OXFORD M25 CHELMSFORD
M1
SWINDON
NEWPORT
M4 M4 M4
LONDON M25 SOUTHEND-ON-SEA
BRISTOL HEATHROW
CARDIFF M4 M25
M5
BATH
M3
MAIDSTONE
WESTON-SUPER-MARE BASINGSTOKE
M20
M23 DOVER
GATWICK
M3
M5
EDENBRIDGE
WINCHESTER CRAWLEY 4 FOLKESTONE
TAUNTON SALISBURY
SOUTHAMPTON
W E M O V E B I K E S LT D , G R E AT W E S T E R N R O A D , G L O U C E S T E R , G L1 3 P Z
Description
The property is a single let warehouse property with profiled steel
roof and external cladding. The unit has 7.1m eaves and a single level
access roller shutter door. The building incorporates two storey
offices and the loading yard has a depth of approximately 30m.
Site
The property has a site area of approximately 1.39 acres (0.56 ha)
providing a site density of 53%.
0m 10m 20m 30m
Tenure
Freehold
5
W E M O V E B I K E S LT D , G R E AT W E S T E R N R O A D , G L O U C E S T E R , G L1 3 P Z
Tenancy Schedule
Address Area (sq ft) Tenant Lease Lease Lease Next Rent WAULT to Rent Rent Comments
Start Expiry Break Review Expiry (Breaks) (£pa) (£psf)
Great Western Road, 32,392 P.L Transport 20/06/2016 19/06/2021 - - 2.06 £131,500 £4.06 Yearly stepped rent topped
Gloucester, GL1 3PZ Limited T/A We up to 2020 level. Outside
Move Bikes Ltd the 1954 Act.
Total 32,392 2.06 £131,500 £4.06
Covenant
P.L Transport Limited, trading as We Move Bikes offering specialised
motorbike transport, asset management and secure bike storage solutions
for individuals and corporate clients. The subject property is the tenant’s
sole operation in the country. Further information about the company can be
found on:
www.wmblogistics.co.uk
The company is rated 1A1 by Dun & Bradstreet representing a ‘Minimum’
risk of business failure and has produced the following accounts for the last
three years:
P.L Transport Limited 31 Dec 2017 31 Dec 2016 31 Dec 2015
(05208301)
Net Worth £ 810,000 £ 662,194 £ 588,595
Net Current Assets £ 386,420 £ 384,625 £ 331,322
6
Proposal
We are instructed to seek offers in excess of £1,900,000 (One Million Nine Hundred Thousand)
subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 6.50%
based on 6.28% purchasers costs and a capital value of £59 per sq ft.
Additional Information
VAT EPC Data Room
We understand the property EPC for the property is available upon Access can be obtained on request.
have been elected for VAT and it is request.
therefore envisaged that the sale
will be treated as a Transfer of Going
Concern (TOGC).
Contacts
For further details or to arrange an inspection please contact:
TOM SCOTT SANDRA NWACHUKWU MIKE DOLEMAN CHARLIE BURT
Director Associate Director Surveyor Graduate Surveyor
+44 (0)20 7075 2819 +44 (0)20 7409 8074 +44 (0)20 7016 3787 +44 (0)20 3320 8227
+44 (0)7825 531 034 +44 (0)7807 999 941 +44(0)7870 183 413 +44 (0)7870 999 124
tscott@savills.com snwachukwu@savills.com michael.doleman@savills.com charlie.burt@savills.com
Important Notice
Savills, their clients and any joint agents give notice that:
1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise.
They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or
representations of fact.
2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property
has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.
Designed and Produced by Savills Commercial Marketing: 020 7499 8644 | June 2019
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