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Gloucestershire Business News

102-104 Promenade, Cheltenham

102-104 Promenade is a Grade II listed property which has been occupied as a single retail unit benefiting from a wide fully glazed shop front.

The property is regular in shape with central glazed double entrance doors leading into a mainly open plan sales area all on one level.

The first and second floors provides ancillary storage and staff welfare facilities.

EPC: The property has an energy rating D (92). A copy of the Energy Performance Certificate can be made available upon request.

Location:

With a population of around 120,000, Cheltenham is an important regional shopping location serving an extensive catchment area.

The town is renowned for its range and quality of shopping and the various festivals which attract many visitors throughout the year.

The subject property occupies a prominent position on Promenade; Cheltenham's famous tree lined shopping street which connects the High Street to Montpellier.

Nearby occupiers include Joules, Vinegar Hill, Anthropologie, Russell & Bromley, Reiss and The White Company.

Accommodation:

The approximate net internal floor areas are as follows:

Ground Floor Sales: 253.5 sq m (2,729 sq ft)

First Floor Ancillary: 128.58 sq m (1,384 sq ft)

Second Floor Ancillary: 114.64 sq m (1,234 sq ft)

Total: 496.72 sq m (5,347 sq ft)

Rent:

£140,000 per annum exclusive.

Terms:

Available on a new full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews.

Planning:

The property has most recently been used as a retail shop falling within the new 'Class E' use class.

Class E includes a range of uses including retail, restaurant, office, financial & professional services, medical & health and some leisure.

Rates:

Rateable Value: £262,500

The above information was obtained from the Valuation Office website. Interested parties should make their own enquiries of the billing authority (Cheltenham Borough Council) to verify the current rates payable.

Code for Leasing Business Premises (2020):

All tenants should be aware of the Code for Leasing Business Premises and are recommended to seek professional advice relating to this, or any, commercial property letting transaction

VAT:

VAT may be payable on the rent or any other charges or payments detailed.

All figures quoted are exclusive of VAT and intending lessees must satisfy themselves as to the VAT position by taking appropriate professional advice.

Legal costs:

Each party to bear its own legal costs incurred in the transaction.

Contact:

KBW Property Consultants 

01242 244744

enquiries@kbw.co.uk 

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