An office block in Gloucestershire has been sold off for more than £1.4m in a major investment deal.
Commercial property firm Bond Wolfe sold warehouse and showroom Unit J, on Bourton Industrial Estate in Bourton-on-the-Water, on behalf of "retained clients" who have not been named.
The building, which was was sold on a freehold basis, is currently let to kitchen, glass and homewares supplier Parlane Living on a renewed 10-year lease.
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The sale went through in just 18 days from heads of terms being agreed.
The 14,7145 sq ft property has a passing rent of £93,417 per annum, with a fixed uplift to £103,417 per annum in November 2026, representing a net initial yield of 6.14%.
The building has feature glazing to the front and parts of the side and rear elevations, with reconstituted Cotswold stone external elevations. Inside, the showroom has a staircase leading to offices on the first floor.
James Mattin, managing director agency at Bond Wolfe in Birmingham, said: “This is further example of our growing national reach, following on from significant industrial sales in Ilfracombe, Gillingham and Southampton.
“This freehold unit occupies a highly visible corner plot within 0.25 miles of the A429 Fosseway and is let to a tenant who has been in occupation for over 20 years.
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“The vendors are retained, long established clients of Bond Wolfe and we were pleased to achieve such a successful sale for them.”
Andy Price at AP Investment advised the purchasers, whose name was not disclosed. The buyers were represented by Terry Dickson of Leamington Spa law firm Wright Hassall.
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