The freehold of a high specification warehouse at Olympus Park in Quedgeley in Gloucestershire has changed hands for £5.35 million. GVA, the UK’s largest independent commercial property adviser, acquired the 110,657 sq ft industrial unit on behalf of Cordea Savills.
Industrial valves manufacturer Severn Glocon Group has occupied the site since 1997 and has a further eight years remaining on its lease.
The sale reflects a net investment yield of 9.28%.
Richard Howell, Investment Director for GVA in Bristol says, “This warehouse is one of the few large format distribution buildings in Gloucester, and provides an excellent headquarters facility for the tenant Severn Glocon.”
Located just 2 miles from J12 of the M5, the warehouse occupies a 5.4 acres site on Olympus Park.
The vendor, Valad, was represented by Jones Lang LaSalle and Joiner Cummings.
