Let to the undoubted covenants of Marks & Spencer PLC and Poundland. Marks & Spencer PLC have an unexpired term of approximately 12.5 years to expiry, while Poundland have an unexpired lease term of approximately 5.3 years, having taken a new lease in September 2023.

The WAULT to expiry is c.11.2 years and c.7.1 years to break.

Gloucester is an historic cathedral city which is ranked in the top 75 UK retail centres and is the 9th fastest growing city in the UK.

The property occupies a prime trading location, with frontages onto the pedestrianised Eastgate Street and Southgate Street, the main retailing thoroughfares in the city.

The total gross passing rent is £568,750 pa with a net operating income of £508,750 pa, following the deduction of the head rent. The property is held long leasehold with c.112 years unexpired at a current head rent of £60,000 pa.

The tenants overall occupational costs are assisted by the terms of the head lease which provides an attractive low service charge payable by both tenants, with the total service charge being £29,320.18 for the current year.