Gloucester Morrisons handed £21m price tag
A Morrisons supermarket in Gloucester has been put up for sale, with a price tag of £21m.
Font Real Estate is marketing the 71,406 sq ft property on Metz Way, which hosts a 356-space car park and a six-pump petrol filling station.
The supermarket sits in a prominent retail destination 1.6 miles south East of Gloucester city centre. It is in close proximity to the 114,400 sq ft Gloucester Retail Park and the 64,500 sq ft Eastern Avenue Retail Park. The two schemes are home to retailers including The Range, B&M, and Currys.
It also sits adjacent to the newly-built Triangle Park, which accommodates a Costa Coffee drive-through, Lok’n’Store self storage, and a Mercedes-Benz commercial dealership.
A number of solo units are also nearby, including Lidl, Homebase, and Halfords, while a number of industrial units sit west of the Morrisons store.
The freehold site is let to Morrisons for 25 years, with the lease expiring in July 2038. It is subject to rent reviews every five years, with rent at the site expected to rise to over £1.9m per annum.
The supermarket has a BREEAM ‘very good’ rating and an EPC certification of B.