Craigard Pays a Trip to Gloucester in Latest Aquisition
Craigard has acquired the freehold of the Kohler Mira Building at Barnwood Industrial Estate in Gloucester for £2.65million.
Extending to just under 53,000 sq.ft, the 12m to eaves high bay distribution shed is let to Kolher Mira until April 2019 at a rent of £252500 per annum (£4.70 per sq.ft).
“This is an extremely good quality high bay distribution warehouse in a strategic location where there is a general shortage of stock,” commented MD of Craigard, Paul Foster. “Kohler Mira’s lease expires in around four years’ time – it is growing as a business and its intentions are uncertain but should it vacate we will have an extremely good building to offer at a very competitive rent given our acquisition costs of £50 per sq.ft. There is scope to extend and reconfigure the building to suit either the existing tenant or an incoming occupier.”
Barnwood is an established mixed commercial location (just two miles from Junction 11a of the M5) and is home to Barclays, Bookers and Lloyds.
The vendor was represented by CBRE in Bristol. Molyneux Rose acted for Craigard.