A big chunk of high street retailing in the centre of Cheltenham is set to go under the auctioneer's hammer soon - with an apparent nod from planners suggesting it could be transformed into a new hotel for the town.

An entire parade of 11 retail units, which sits on 0.17 hectares to the east side of Winchcombe Street, is located within a minute's stroll from John Lewis and is being offered by London-based auctioneers Acuitus with a guide price of £1.8m to £1.9m.

The current income from the units, with five being shown as vacant, comes to £187,500pa, with the mix of retail units occupying street level with additional retail space above – plus six office suites on a second storey.

Significant current tenants include Ladbrokes, who are indicated to pay rent of £75,000pa, the Star and Food Co, who pay £31,500, and the Cry Now Cry Later tattoo parlour, which pays £20,000. The Tanique tanning salon also contributes a rent of £16,000 per year.

Immediately adjacent to Lloyds TSB, the parade sits in an area that links the town's High Street with Albion Parade and the sale includes parking for 10 cars. Total floor area amounts to 2,260.90 sqm. (24,312 sq ft).

Describing the parade, which runs from number five to 39 on the street, as having "immediate asset management opportunities", Acuitus said: "The whole existing site may be suitable for change of use subject to obtaining the necessary consents. The vendor has received a positive pre-app on a potential hotel development from Cheltenham City Council."

They added: "The property is... between the busy High Street and Albion Street with three major car parks within 100 metres. The property neighbours John Lewis with other nearby occupiers including H&M, Next, River Island, Pret a Manger and M&S."

● Acuitus will hold the auction on May 9.