This property presents a compelling investment opportunity, particularly for those interested in refurbishment and renovation projects. Situated on the upper floors, there is significant potential to revitalize the space, which is currently in need of updating. The ground floor has recently secured a new lease with Post Office Limited, ensuring an immediate income stream while also providing a stable foundation for further development.
Located in Kings Square at the heart of Gloucester's central business district, this property benefits from its strategic position within a bustling area that features a mix of retail, office, and hospitality businesses. Notable neighboring establishments include Primark, Tesco, and Costa, alongside various other popular retailers. This vibrant environment not only enhances foot traffic but also positions the property well within a city known for its cultural richness and economic diversity.
The building is equipped with a wet central heating system powered by a modern gas-fired boiler and offers air conditioning on the ground floor. While some renovations are needed for the upper levels, they fall under Class E use—previously designated for office space—which suggests flexibility in terms of potential redevelopment options. There may also be possibilities for conversion to residential units, subject to local planning approvals.
Gloucester itself is steeped in history and boasts excellent transport links, being close to both the M5 motorway and local rail services. Its population of over 171,000 contributes to a thriving local economy that merges traditional industries with growing sectors such as digital technology and retail.
Moreover, the property is not listed, allowing greater freedom for alterations and improvements. It also falls outside VAT regulations on sale prices. Current rateable values indicate strong investment potential: £46,000 for the ground floor and £17,000 for the upper levels.
In summary, this property offers considerable scope for enhancement within a prime location in Gloucester. Interested parties are encouraged to conduct thorough investigations regarding planning uses and explore all refurbishment options available under current regulations.
