For Sale

The Post Office, 28 Kings Square, GLOUCESTER, GL1 1AD

Overview

Office
Property Type

11150
sqft

Description

Location

Investment Opportunity with Refurbishment Potential

Upper Floors in need of refurbishment

New lease signed to Post Office Limited on Part

Information Pack Available on Request

Gloucester is a historic cathedral City in the southwest of England, situated on the eastern bank of the River Severn. It serves as the county town of Gloucestershire. The City is known for its stunning Gloucester Cathedral, vibrant cultural scene, and proximity to the Cotswolds. Its economy blends traditional industries with modern sectors including aerospace, digital, and retail. The estimated population of Gloucester is 171,015. The subject property is situated in the heart of Gloucester at Kings Square, which offers a commanding position within the city's central business district. Overlooking the newly refurbished public square and forming part of the vibrant Kings Walk estate, this location provides a dynamic mix of retail, office, and hospitality occupiers including Primark, Costa, Tesco, Subway, WHSmith, Iceland, and River Island.

The property benefits from a wet central heating system with modern gas fired boiler (see info pack). The ground floor also benefits from air conditioning. Purchasers are to undertake their own investigations in this regard. No tests have been carried out to verify the information.

We are advised that the property benefits from continued use on the ground floor as 'retail and ancillary space' (now Class E). The uppers (formerly B1 offices) will also now fall under Class E. Purchasers are to verify the planning use and make their own investigations with the Local Planning Authority. The property may benefit from Permitted change of use within Class E and to other uses. The upper floors may also have conversion potential to residential (subject to planning). The building is Not Listed.

The property is not elected for VAT on the sale price.

The Valuation Office Agency portal confirms:
- Ground Floor - Current rateable value £46,000.
- Upper Floors - Current rateable value £17,000.

Offers in excess of £650,000 for the Freehold. The property is offered For Sale by Private Treaty however we reserve the right to set a 'best and finals' offer deadline in due course. Please note the lease is now subject to a subtenant and tenancy at Will.

EPC Band - D. Display Energy Certificate Band - E.

Each party is to incur their own legal fees.

Please view the video tour prior to arranging a viewing. Set viewing slots will be offered.