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Gloucestershire Business News

£575,000 - 1a Regent Street, Cheltenham

The property comprises the ground floor of a two-storey period building in the central Conservation Area.

Currently trading as a café premises, the property has a timber framed and glazed shop front with single door, leading into an open plan seating and serving area. There is a washing up area and single WC to the rear of the ground floor, as well as an external store located within the rear yard area.

A planning application has been granted for the extension of the ground floor retail accommodation as well as an extension to the first floor living accommodation under reference number: 19/00986/FUL

EPC: The property has an energy rating C (60). A copy of the Energy Performance Certificate can be made available upon request.

Location:

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 less than 40 metres from the High Street in a pedestrianised part of the street.

Nearby occupiers on Regent Street include the Everyman Theatre, Bills Restaurant, House of Fraser at Cavendish House, Bar Padron, Cheeseworks, Whittle Taps as well as many other independent and chain occupiers.

Accommodation:

The existing approximate net internal area (NIA) is as follows:

Ground Floor Café: 46.78 sq m (504 sq ft)

External Store: 18.72 sq m (201 sq ft)

Total: 65.5 sq m (705 sq ft)

Self-contained first floor living accommodation comprising two bedrooms, kitchen and shower room could also be available, subject to a separate discussion.

Terms:

Available on a new (effectively) full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews. A lease on the whole or a possible sale of the building may also be considered. Further details on application.

Rent:

Ground Floor: £27,500 per annum exclusive.

Planning:

The property is currently trading as a café premises, falling within the new Class E use class.

Rates:

Rateable Value: £27,500.

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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