Car dealership has new landlord after multi-million-pound deal
By Andrew Merrell | 19th November 2018
A double-headed property deal valued at £6million sees a new owner of the home of one of the county's premier car showrooms.
Boutique investment firm Altitude Investments has revealed details of the deal involving the Cheltenham property, and a grade II-listed 7,500 sq ft building in Bristol.
Described as "half a mile from the High Street" in Cheltenham, the Tewkesbury Road site is currently home to Inchcape VW which has what has been described as a "good term" for the site.
The site itself is now in new hands.
George Turnbull, of Altitude Investments, said his firm was also keen to hear from any other property owners in the town looking to complete quickly.
"We are very pleased to have secured these two prime assets. They offer a healthy balance of yield and income in two prominent and sustainable trading locations.
"Both sites have great leases and tenants but their locations would provide a number of opportunities for alternative uses longer term.
"We have room for another acquisition of circa £3million to 4million within this mandate and Cheltenham shows our deliverability in very tight timescales.
"Please do get in touch if you are aware of any assets that would like a clean completion this side of Christmas."
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