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Gloucestershire Business News

£1.2m Cheltenham residential and hotel conversion opportunity

Chapel Spa, 10 North Place, Cheltenham

• Prominent Grade II Listed building.

• Planning approval for 8 no. apartments or 12-bedroom hotel with leisure facilities.

• Potential to create additional apartments/accommodation within the roof (subject to planning).

• Private car parking spaces.

The property comprises a 19th Century Grade II Listed building which has been converted to a health spa.

The property has ashlar stone elevations incorporating large, glazed windows beneath a pitched slate covered roof.

Internally the property, which includes pool, gym and treatment rooms is arranged on lower ground, ground and first floor levels.

Externally there are 8 No. car parking spaces adjacent to the building.

Development proposal:

The recent planning approvals allow for the conversion of the Property to residential apartments or hotel.

There may also be the potential to provide additional accommodation within the roof space (subject to planning).

A copy of the planning drawings relating to the proposed conversion to either 8 No. apartments or a 12-bedroom hotel with leisure facilities is attached to the particulars.

Energy Performance Certificate (EPC):

The Listed building does not have a current Energy Performance Certificate.

Location:

The Property is situated in a prominent position fronting North Place adjacent to the junction with St Margaret's Road (A4019).

The Property is immediately adjacent to the Portland Street car park and close to the Brewery Quarter.

Accommodation:

Services:

We are advised that all main services are connected to the premises and confirm that we have not tested any of the service installations and any occupier must satisfy themselves independently as to the state and condition of such items.

The purchaser will need to make further enquiries of the relevant authorities in respect of the service capacity for the conversion proposals.

Planning:

The planning approval to allow for change of use to 8 No. residential apartments is reference 20/01997/FUL and to hotel is planning reference 20/00119/COU.

Terms:

Sale of the freehold interest with vacant possession on completion.

Guide Price:

Offers in excess of £1,150,000.

All information relating to the planning approvals is available on the Cheltenham Borough Council's planning portal.

Alternatively, information is available in pdf format upon request.

Business Rates:

Interested parties should make their own enquiries to Cheltenham Borough Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment.

The current assessment as health spa and premises has a rateable value of £19,500.

VAT:

Under the Finance Acts 1989 and 1997, VAT may be levied on the sale price. We recommend that the prospective purchasers establish the implications before entering into any agreement.

Legal Costs:

Each party is to be responsible for their own legal costs incurred in the transaction.

Contact:

Alder King Property Consultants 

Philip Pratt

07831 774640

ppratt@alderking.com 

Knight Frank

Harry Bethell

07770 013917

harry.bethell@knightfrank.com 

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