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Gloucestershire Business News

8-14 Portland Street, Cheltenham

The premises occupy the ground floor of a modern mixed-use building with residential accommodation above. There is an extensive frontage providing good window display opportunity as well as ample natural light into the retail area.

The frontage provides two entrances (both with double doors) and benefits from wood effect flooring, suspended ceilings, spotlights on tracks, kitchen, and WC facilities. Externally there is also rear access and bin storage.

Two parking spaces are available with the property located on Trinity Lane.

EPC: The property has an energy rating C (56). A copy of the Energy Performance Certificate can be made available upon request.

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 its festivals attract many visitors throughout the year.

The subject premises occupy a prominent position on Portland Street, visible from Albion Street which forms part of the inner ring road system as well as Fairview Road (A4019/A46).

Other nearby occupiers include Leisure Lakes Bikes, Boots the Chemist, Turtle Bay Restaurant and Everest Restaurant. Portland Street car park, with 270 spaces, is just over 100 metres to the North.

Accommodation:

The approximate dimensions and net internal floor area is as follows:

Internal Width: 23.94 m (78 ft 6)

Shop Depth: 15.32 m (50 ft 3)

Floor Area: 329 sq m (3,542 sq ft)

Rent:

£48,000 per annum exclusive.

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.

Planning:

Although the existing use is Class A1 (retail), the premises now falls under the new 'Class E' use class which also includes restaurant, professional services, offices, clinic and leisure uses. All enquiries welcome.

Rates:

Rateable Value: £41,000

It is understood that no Business Rates are payable for the year ending 31st March 2021.

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 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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