Acting on behalf of the private investment company Castle Mound Estates, Alder King has sold the freehold interest in John Deere House, a multi-let office building on Meteor Court in Gloucester. The 7,902 sq ft property was sold to Kingscombe Estates, represented by Heywood & Partners, off a quoting price of £900,000.
The property is located in Barnwood, Gloucester’s established business location, and was sold with the benefit of full occupation and an annual rent roll of £92,295.
John Hawkins, associate at Alder King’s Gloucester office, said: “Demand for quality regional investment opportunities outstrips availability, leading to significant interest in properties that are brought to the market. We were delighted to secure the sale of this property to a purchaser who plans to actively manage the property.”
Alder King’s Gloucester office has acted in several investment disposals recently, including the sale of Friary House and Northgate Court in Gloucester, St George’s House in Cheltenham and Palace Chambers in Stroud. All attracted high levels of interest from owner occupiers and investors, going to best bid situations, showing the level of confidence in Gloucestershire as a strong business location.
