45 Winchcombe Street, Cheltenham
This Grade II listed retail unit is suitable for a variety of uses (STP) with accommodation at ground and basement level, with the added benefit of an external terrace at the rear. Close to the new John Lewis department store.
The subject property comprises the end terrace of three Grade II listed properties originally constructed circa 1820. The building is partway through an extensive refurbishment programme and the available accommodation will be at ground floor and basement.
The refurbishment is being undertaken in line with planning consents granted under applications 15/00286/FUL and 15/00286/LBC, full details of which are available on the Cheltenham Borough Council website.
The ingoing Tenant will be responsible for completing the installation of the shop front to its desired specification. A rental incentive will be considered in lieu of remaining works, subject to the overall terms of the proposed lease.
EPC: Exempt as listed building.
The property is situated adjacent to the junction of Winchcombe Street and Albion Street approximately 100 metres north of Cheltenham's High Street.
Winchcombe Street is a busy thoroughfare to the town centre and inner ring road to the south, with the Prestbury Road shopping precinct and the idyllic Pittville Park a short distance to the North.
Crest Nicholson has recently redeveloped the former Odeon cinema and Haines and Strange site directly adjoining the subject property to provide 97 high spec homes at its Regency Place scheme, which has further enhanced the location.
The rear entrance to the new John Lewis department store, which is under construction, is also located close to the Winchcombe Street / Albion Street junction, within walking distance of the subject property.
On street pay and display parking is available on Winchcombe Street, with the town's main public car parks of Portland Street and North Place located nearby. Both car parks are likely to be redeveloped in the future, potentially increasing further the number of residential properties in the immediate catchment.
The indicative net internal floor areas are as follows:
Ground Floor: 30.62 sq m (330 sq ft)
Basement: 68.30 sq m (735 sq ft) (clear floor to ceiling height approx 2.3 m)
Total: 98.92 sq m (1,065 sq ft)
The above areas will be confirmed upon completion of the refurbishment works. The Landlord is also happy to consider extending the ground floor accommodation onto an area currently proposed for external seating, subject to the appropriate planning consents.
Available on a new full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews.
£18,000 per annum exclusive.
Current Rateable Value: £5,300
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 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.
Each party to bear its own legal costs incurred in the transaction.
KBW Chartered Surveyors
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