38 & 40 Clarence Street, Cheltenham
38 & 40 Clarence Street are two independent but adjacent Grade II listed properties, originally forming part of a terrace of houses from circa 1830's; the ground floor shop fronts are a later 19th century addition.
Period features including high ceilings and large sash windows can be found within both properties. The properties are prominent and benefit from added kerb appeal with return frontage onto Crescent Place.
Internally, the basement, ground and part first floors of no. 40 provide a restaurant. The basement incorporates a kitchen, offices and cellar. The ground and first floors comprise the restaurant and event spaces, WC's, along with a second kitchen and preparation area on the first floor.
The second and third floors of 40 Clarence Street comprise 4 apartments. Although there is at present no separate access to the apartments, planning consent (Ref No. 16/01069/LBC) has been obtained to create an internal opening resulting in access being available for these floors via a separate entrance to 38 Clarence Street.
38 Clarence Street comprises a smaller ground floor retail area as well as a lower ground floor retail area with small kitchen, storage and single WC. The first, second and third floors provide 3 apartments, accessed separately via Clarence Street. The properties could suit a range of occupiers, subject to planning.
EPC: The properties have an energy rating of:
38 Clarence Street - C (51)
40 Clarence Street - C (57)
A copy of the Energy Performance Certificate can be made available upon request.
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 its festivals attracting many visitors throughout the year.
Located in a prominent position on Clarence Street; the inner ring road of Cheltenham, the property also benefits from return frontage onto Crescent Place where the restored John Dower House now forms 67 luxury retirement apartments.
The town's famous Promenade is situated within 150 metres of the subject premises.
Nearby café / restaurant occupiers include Boston Tea Party, Wagamama, The Mayflower, The Bank House (Wetherspoons) and Daphne Restaurant. The location also forms part of Cheltenham's cultural quarter, the focal point being the Wilson Art Gallery & Museum as well as Cheltenham Library.
The approximate floor areas are as follows:
38 Clarence Street
Lower Ground Floor: 51.59 sq m (555 sq ft)
Ground Floor: 27.56 sq m (297 sq ft)
Total: 79.15 sq m (852 sq ft)
First Floor: 1 x one-bedroom apartment
Second Floor: 1 x one-bedroom apartment
Third Floor: 1 x one-bedroom apartment
40 Clarence Street
Basement: 180.9 sq m (1,947 sq ft)
Ground Floor: 194.32 sq m (2,092 sq ft)
First Floor: 196.7 sq m (2,117 sq ft)
Total: 571.92 sq m (6,156 sq ft)
Second Floor: 2 x one-bedroom apartments
Third Floor: 2 x one-bedroom apartments
Guide Price £2,000,000 for the freehold of 38 & 40 Clarence Street, with vacant possession on completion.
Ground Floor & Basement 38 Clarence Street: £7,400
Upper Floors 38 Clarence Street: Council Tax Band B
40 Clarence Street Rateable Value: £37,000
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 price 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.
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