* Located Midway Cheltenham - Gloucester
* 8+ Years Unexpired Lease Term (Nov 2031)
* Current Rental Income £184, 250 per annum
* Established R & D Design/Engineering Business
* Low Annual (Reversionary) Rents for each Unit
Staverton Technology Park is located on the western outskirts of Cheltenham
accessed via the A40 Golden Valley Bypass link road between Gloucester and
Cheltenham and via the B4063 from the Golden Valley roundabout. Junction 11 of
the M5 motorway is 2 miles distant by road and Gloucestershire Airport. Key
distances:
M4/M5 (Bristol) Interchange 30 miles
M5/M42 (South Birmingham) 33 miles
Cheltenham Spa Rail Station 2. 8 miles
Gloucester Rail Station 4. 6 miles
Cheltenham & Gloucester are the largest town and city respectively in
Gloucestershire which has become a renowned centre for engineering and
technological excellence. The proposed cyber park at Cheltenham will be
located within two miles of the site and demand for quality industrial units
from tenants has proven to be strong over the past five years. Other major
engineering business in the locality include Safran, Ontic and Spirax Sarco.
The Government gchq base is located within 2 miles.
Units F & H are adjacent premises on a site of approximately 1. 7 acres on the
western side of Herrick Way and Herrick Close, Staverton Technology Park.
Unit F provides superb manufacturing space together with product testing areas
and administration offices. There is a covered loading bay and onsite parking
for approximately 45 cars.
Unit H comprises a detached building with offices and workshop/warehouse. Car
parking is provided to the front of the building together with a separate
secure loading yard.
**Accomodation**
The buildings comprise the following accommodation (floor areas provided by
the vendor):
Unit F
Ground Floor 2, 725 sq m (29, 330 sq ft)
Area includes Offices, Production Area, Testing Centre, Rear Workshops &
Dispatch/Loading Area
First Floor (Offices) 370 sq m ( 3, 980 sq ft)
Second Floor
Storage and Mezzanine 240 sq m ( 2, 585 sq ft)
Total 3, 335 sq m (35, 895 sq ft)
Unit H
Ground Floor Offices 199. 8 sq m (2, 151 sq ft)
And Workshops 549. 4 sq m (5, 914 sq ft)
Total 749. 2 sq m (8, 065 sq ft)
Externally
Unit F
Large Forecourt Parking Area with additional loading access for vehicles at
two locations .
Unit H
Gated yard with access to workshop/warehouse loading. Two front car parking
areas.
**Services**
Mains electricity, gas, water and drainage are understood to be connected
although Staverton Technology Park has its own drainage system which then
connects to the mains drainage. An electricity sub - station sits at the front
boundary of Unit F - which has its own transformer.
Unit F is let to Future Advanced Manufacture Limited (Company Registration
Number: 01543717) on a Fri lease for a term of years expiring on 11th November
2031. The current rent payable is £140, 000 per annum and this is subject to
review on the 12th November 2024.
**Leases**
Unit H is let to Future Advance Manufacture Limited on a Fri lease for a term
of years expiring on 11th November 2031. The current rent payable is £44, 250
subject to an upward only rent review as at the 12th November 2024.
Future Advanced Manufacture Limited is a company which was incorporated in
1981 and provides innovative design and manufacturing solutions to support
research and development of projects across a variety of industries including
Aerospace, Space, Oil & Gas, Medical, Nuclear, Marine and Defence industries.
Full information can be obtained at
The company has a D & B rating of 2A3. The company's balance sheet for the
year ending 30th April 2021 shows Net assets of £4, 705, 115 £4, 702, 133 in
2020).
**Rental levels**
The rent payable for Unit F equates to approximately £3. 90 per sq ft overall.
This rental was agreed at a concessionary level in 2021 to assist the new
owners of the company to continue to drive the company forward following the
Coronavirus Pandemic. A significant reversion is expected in the rent payable
for the premises at the rent review date of November 2024.
The rent for Unit H reflects approximately £5. 50 per sq ft. This rental level
is also considered to be reversionary with a prospect of uplift in November
2024.
_
Price_ \ - Subject to Contract
The properties are offered for sale separately or together subject to the
occupational leases granted to Future Advanced Manufacture Limited at the
individual prices of:
Unit F £1. 85 million
(Reflecting a Capital price of £51. 53 per square foot)
Unit H £635, 000
(Reflecting a Capital price of £78. 73 per square foot)
Total £2, 485, 000 - for both buildings

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