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Gloucestershire Business News

60 Promenade, Cheltenham

60 Promenade is a Grade II listed period building with frontage to Promenade. Accommodation is arranged over six levels with a ground floor sales area that also benefits from mezzanine trading space. The gross frontage is 6.81 m (22 ft 4 in).

The first and second floors provide ancillary accommodation currently used for storage and staff welfare facilities.

There is one car parking space included to the rear of the property, with access from Regent Street.

EPC: The building is listed and therefore believed to be exempt.

Ground floor is ideal for a shop, cafe, restaurant, take-away or off-licence (subject to consent). First floor would suit private dining, conferences or a showroom. Second floor flat for refurbishment.

Location:

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 the various festivals and important race meetings which attract many visitors throughout the year.

The subject property occupies a prime location on the Promenade; Cheltenham's famous tree lined shopping street which connects the High Street to Montpellier.

Nearby occupiers include Hotel Chocolate, Jo Malone, Molton Brown and House of Fraser.

Accommodation:

The approximate net internal areas are as follows:

Ground Floor Retail 73.30 sq m (789 sq ft)

Upper Mezzanine Sales 30.29 sq m (326 sq ft)

Lower Mezzanine Sales 42.83 sq m (461 sq ft)

Basement Ancillary 12.26 sq m (132 sq ft)

First Floor Ancillary 70.89 sq m (763 sq ft)

Second Floor Ancillary 53.61 sq m (577 sq ft)

Total 283.18 sq m (3,048 sq ft)

Gross Frontage 6.81 m (22 ft 4 in)

Internal Width 5.79 m (19 ft)

Shop Depth 18.29 m (60 ft)

Sales area: 146.42 sq m (1,576 sq ft)

Terms:

Available on a new full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews. Alternatively, a sale of the freehold interest is available with vacant possession.

Rent/ Price:

On Application.

Rates:

Rateable Value: £132,000

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.

Planning:

The property currently has a Retail consent falling within the new 'Class E'. Class E includes a range of uses including retail, restaurant, office, financial & professional services, medical & health and some leisure.

VAT:

We understand VAT is not payable on the rent / price. Intending lessees / purchasers 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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