Skip navigation

Gloucestershire Business News

Cheltenham wine bar and offices property sold

Property including a wine bar, shop and offices in Cheltenham's fashionable Montpellier area has been sold.

The Grade II listed site was bought for £875,000 by a private investor, represented by commercial property experts Hartnell Taylor Cook.

The freehold interest comprises two ground floor shop units, one let to linen retailer Cologne & Cotton, and the second unit, which is a prominent corner unit, trades as a wine bar let to independent wine & spirit merchant, Jon Gordons (Cheltenham) Ltd. On the upper two floors, there are two self-contained office suites.

The block on Montpellier Arcade is ideally located overlooking Montpellier Gardens and nearby occupiers include The Ivy Brasserie, Brasserie Blanc, Mandarin Stone, Wesley Barrel and Fired Earth.

The investment currently generates an annual income of £59,500 per annum.

The sale at a price of £875,000 reflects a net initial yield of 6.44%.

The new owners, Helmsley Securities Ltd pride themselves on focusing "on buying quality property in prime locations with long leases and tenant covenant strength".

Subscribe to Punchline

Related Articles

Almost 200 jobs at risk as Gloucestershire factory faces closure Image

Almost 200 jobs at risk as Gloucestershire factory faces closure

A global engineering firm is proposing to close its Gloucestershire manufacturing centre with the loss of 185 jobs.

Breaking news: Is Prime Minister about to delay crucial Brexit vote? Image

Breaking news: Is Prime Minister about to delay crucial Brexit vote?

Speculation is mounting that the Prime Minister is going to delay tomorrow's vote on her Brexit deal.

Police sell £18,500 of designer trainers which belonged to criminal Image

Police sell £18,500 of designer trainers which belonged to criminal

Police are to sell £18,500 worth of designer trainers which belonged to a convicted criminal so the proceedings can go towards fighting crime.

Business expert: Detailed preparation for sale Image

Business expert: Detailed preparation for sale

Even if your business is in good shape, are you emotionally prepared for the sale of the business?

Copyright 2018 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.