£6.5 million business investment in heart of Cheltenham
By Andrew Merrell | 8th July 2019
Here is a business opportunity with a difference - six prime pieces of Gloucestershire's favourite spa town up for sale in a tidy investment portfolio valued at £6.5 million-plus.
If the price tag puts you off then perhaps you will change your mind when you learn it currently generates a tidy £385,000 annually.
This is the sale by property experts Savills of what it is calling the Lansdown Estates Portfolio, on the market at a guide price of £6,585,000.
"A rare investment portfolio of six listed town houses divided up in to apartments and generating approximately £385,000, for sale as a whole or individually," says Savills website.
All of the properties are Grade II or Grade II* listed buildings and have what the firm calls and "excellent record of occupation with 66 of 68 units let (at the time of publishing)".
"Lansdown Estates is a portfolio of six Grade II or Grade II* listed properties located around the heart of the centre of Cheltenham and divided in to apartments, currently generating in excess of £385,000 per annum.
"Of potential interest to investors, developers and speculators, the portfolio is available to be purchased as a whole or individually, and is to be sold as a going concern with tenants in situ, all tenants being in place on assured shorthold tenancies."
Some of the details: 30,511 sq ft (2,834.56 sq m)
6 Lansdown Terrace, GL50 2JT - 10 apartments, all currently let and generating £59,820 - Guide Price £1,200,000
Eton House, Wellington Street, GL50 1XY - 11 apartments, 10 let and generating £60,060 - Guide Price £795,000
10 Hewlett Road, GL52 6AA - 7 apartments, all currently let and generating £43,440 - Guide Price £695,000
Lisle House, Clarence Square, GL50 4JR - 17 apartments, all currently let and generating £91,740 - Guide Price £1,700,000
124 Bath Road, GL53 7JX - 10 apartments, all currently let and generating £57,720 - Guide Price £995,000
8 Suffolk Square, GL50 2DR - 13 apartments, 12 currently let and generating £72,360 - Guide Price £1,200,000
Total 68 apartments, 66 currently let and generating £385,140 (all correct at time of going to print).
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