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Gloucestershire Business News

88 High Street, Cheltenham

A mid terrace retail property of rendered brick/blockwork to the elevations under a pitched and tiled roof. The ground floor is currently arranged as a shop with ancillary treatment rooms, offices and stores. A glazed shop front and pedestrian door front directly onto the High Street.

The upper floors are currently predominantly unused, however benefit from separate rear access and could potentially be used for office or residential use (subject to obtaining any necessary Planning Consents).

EPC Rating: The property has an EPC rating of E.

Location:

The property is situated on the High Street in Cheltenham, in the heart of the Town's main retail area. The property fronts directly onto a busy pedestrianised area and is in close proximity to John Lewis and the Regents Arcade, home to many national high street chain stores including TK Maxx, Topshop, River Island and Skechers.

Cheltenham Spa is a thriving and historic town sitting on the edge of the Cotswolds in Gloucestershire. With a population of 115,300 (2010 Census), Cheltenham has a vibrant centre with an international reputation for events, including the annual Literature, Science and Jazz Festivals.

Cheltenham is also regarded as the home of National Hunt racing, the highlight of which is the annual Cheltenham Festival held in March.

The town benefits from a strong strategic location with excellent access to junctions 10 and 11 of the M5 Motorway. Cheltenham Spa Railway Station provides direct and regular rail services to London Paddington. Staverton Airport is situated 4 miles to the north.

Travelling distances to the following towns are:

Gloucester - 9 miles

Tewkesbury - 9 miles

Bristol - 42 miles

Birmingham - 60 miles

Cardiff - 70 miles

London - 95 miles

Accommodation:

The property has the following floor areas measured on a Net Internal Floor Area basis (NIA)

Ground Floor: 60.29 sq m (649 sq ft)

First floor: 29.02 sq m (312 sq ft)

Second floor: 30.35 sq m (327 sq ft)

Third floor: 12.58 sq m (135 sq ft)

Basement: 41.88 sq m (451 sq ft)

TOTAL: 174.12 sq m (1,874 sq ft)

Gross frontage: 3.7m

Internal shop depth (sales area only): 14.54 m

Services:

Mains water, drainage and electricity is connected to the property.

NOTE: None of the services have been tested by Kurt Wyman Surveyors.

Business Rates:

The property has a rateable value of £16,750.

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.

Terms:

Available freehold subject to the existing lease.

Price:

Offers over £325,000 are invited for the freehold interest in the property subject to the existing lease.

Tenure:

The property is currently held on a full repairing, insuring and decorating lease (subject to a Schedule of Condition) property is let to Dr Jimin Lu.

The lease expires 24th October 2023 and the current passing rent is £25,500 per annum exclusive, rising to £26,000 per annum exclusive on 25th October 2022.

Planning:

The property is currently used for the sale of Chinese herbal medicine with ancillary treatment including acupuncture within Use Class E (formerly Use Class A1 Retail).

VAT:

VAT will not be charged on the sale.

Legal Costs:

Each party will be responsible for their own legal fees involved in the transaction.

Contact:

Kurt Wyman Surveyors 

01452 380064

info@kurtwymansurveyors.co.uk 

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