11 Regent Street, Cheltenham
The building forms the end of a terrace of Grade II Listed regency period buildings in a popular position on Regent Street.
No. 11 is a four-storey building with retail on the lower ground, ground and first floors and self-contained residential apartment at second floor level.
There is listed building consent and planning consent for 11 & 12 Regent Street together for a change of use from retail use (Class A1) to a restaurant use (Class A3) together with the removal of an existing extension, erection of a new extension, provision of extraction equipment, replacement windows and internal alterations. Ref 18/00519/COU Ref 18/00519/LBC
With a population of around 120,000, Cheltenham is an important regional centre within the heart of the Cotswolds. The town serves an extensive catchment area and is renowned for its range and quality of shopping and its various festivals attract many visitors throughout the year.
The property occupies a central location on Regent Street close to the town's Promenade shopping parade, High Street and Regent Street entrance to the Regent Arcade Shopping Centre.
The location is popular with retailers, restaurants and cafes, with the subject property directly opposite House of Fraser department store and adjacent to the Everyman Theatre. Other nearby restaurants and cafes includes Carluccio's, Caffé Nero, Woodkraft, Domain 16 and The Find.
Public parking is available nearby within Rodney Road and Regent Arcade car parks
The approximate net internal floor areas are as follows:
Lower ground floor sales: 41.15 sq m (443 sq ft)
Lower ground floor kitchen: 9.72 sq m (105 sq ft)
Ground floor sales: 48.72 sq m (524 sq ft)
First floor ancillary: 48.31 sq m (520 sq ft)
Total: 147.9 sq m (1,592 sq ft)
Plus, a split level two-bedroom apartment above, with approximate max dimensions as follows:
Living Room: 3.74 x 4.47 m
Kitchen: 3.05 x 3.68 m
Bedroom 1: 4.11 x 3.55 m
Bedroom 2: 2.54 x 2.90 m
Bathroom: 2.65 x 3.67 m
Possibility to combine with 12 Regent Street on a separate lease, which would provide an additional 202.75 sq m (2,182 sq ft).
For the freehold of 11 Regent Street a guide price of £800,000. Vacant possession on completion.
Number 12 could also be available by way of a separate leasehold agreement.
The property currently has a number of assessments for rateable value as follows:
Basement 11 Front: £4,000 Basement 11 Rear: £580 Ground Floor 11: £12,750 First floor 11: £4,950
Residential apartment Council tax band: B
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.
VAT may be payable on the purchase cost or any other charges or payments detailed. All figures quoted are exclusive of VAT and intending purchasers must satisfy themselves as to the VAT position by taking appropriate professional advice.
Each party to bear its own legal costs incurred in the transaction.
KBW Chartered Surveyors
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