Office block sold off in £1.4m deal
Bond Wolfe has welcomed the New Year with a million-pound investment sale of a freehold warehouse including an office block in Gloucestershire.
The potential showroom in Bourton on the Water sold in just 18 days for £1,435,000 after the heads of terms was agreed.
Bond Wolfe sold the unit on Bourton Industrial Estate on behalf of retained clients. It is currently let to Parlane Living on a renewed ten-year lease.
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%.
James Mattin, managing director agency at Bond Wolfe in Birmingham, said: “This is a 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.”
The Thefreehold warehouse features a showroom, office block and warehouse and has feature glazing at the front and part of the side and rear, with reconstituted Cotswold stone external elevations.
Bond Wolfe has recorded a 57% rise in annual revenues in 2021 with its total for the year surpassing £175m.
The annual revenues were revealed following Bond Wolfe’s seventh and final live-streamed auction of 2021, which itself raised £29.2m.
Andy Price at AP Investment advised the purchasers. The vendors were represented by Terry Dickson of Leamington Spa law firm, Wright Hassall.