Summary
A convenience and retail parade in a Gloucester suburb is on the market for around £2 million. Longford Local Centre, built in 2019, serves a community of 621 homes just north of Gloucester city centre. The centre is anchored by the Co-op, which is on a 15-year lease to 2034 and accounts for approximately 44% of total income.
Details
The parade also includes Badham Pharmacy, House of Envy Beauty Ltd, Thomas & Thomas estate agents, and Janes Pantry, a long-established Gloucester bakery, trading for over 50 years since 1971. The business operates 11 outlets across Gloucester and Cheltenham. The total accommodation of the five units is 7,959 sq ft (739.4 sq m).
Dan Evans, of Cardiff-based agents Powell Lloyd , described the parade, which is set around a 27-space customer car park, as a “strong line-up of everyday local occupiers”. He said: “The property is freehold, all five units are EPC A, and it produces £172,460 pa. We are seeking offers of £2,160,000, which reflects a net initial yield of 7.51% after purchaser’s costs.
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“It offers a secure, high yielding investment with reversionary potential, and should appeal to both local and national buyers.” The local centre sits at the core of a 621-home residential development, with Longford Park Academy primary school, Longford Park and the local football club immediately adjacent.
The parade enjoys an active frontage onto the busy Longford Lane junction, a key link between Longlevens and the A40 ring road, ensuring strong passing trade and high visibility to the surrounding catchment. Please get in contact with Dan Evans at Powell Lloyd [email protected] for more information or to arrange an inspection.
Report source: Punchline Gloucester
