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Gloucestershire Business News

9 Clarence Parade - Cheltenham

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.

The subject premises occupy a prominent position on Clarence Parade, within a few metres of the inner ring road system. The towns famous Promenade is situated within less than 100 metres.

Nearby retailers include Cath Kidston, Space NK, Martin & Co Jewellers. There are numerous restaurant venues in close proximity including Wagamama, Bella Italia and Boston Tea Party.

The location also forms part of Cheltenham's cultural quarter, the focal point being the art gallery and museum known as The Wilson, and the central library.

Description

The subject property comprises a Grade II listed period property incorporating a glazed double frontage and traditional entrance. Currently occupied by two harmonious businesses, the ground floor offers two good sized retail areas connected by a glazed door.

Large window display areas either side of the canopied entrance bring in plenty of natural light to the full depth of the property. A fine continual balustrade staircase provides access to each level of the property.

The basement level is currently used as a photography studio and sewing room, and benefits from a height of 2.38m. There is an additional WC and storage area on this level.

The first floor provides secondary retail space through two interconnecting rooms, and mirrors the Regency style of the rest of the building with sash windows and detailed architrave.

The second floor provides one supplementary room currently used for storage and as a working area. There is a full-sized kitchen and single WC located on this level which is for the use of the third-floor residential occupier. The accommodation on third floor level is flexible and could accommodate two bedrooms or a bedroom and study/small living area, the main bathroom can also be found on this level. The property benefits from gas central heating to all levels except the basement which is currently using electric heating.

A planning application was obtained in 2014 giving consent for the property to be split for the purposes of multiple occupiers who require a physical separation. More details can be provided upon request.

Accommodation

The approximate net internal floor areas as existing are as follows:-

Basement: 35.43 sq m (381 sq ft)

Ground Floor: 45.68 sq m (492 sq ft)

First Floor: 37.8 sq m (407 sq ft)

Second Floor: 38.38 sq m (412 sq ft)

Third Floor: 24.25 sq m (261 sq ft)

Total: 181.44 sq m (1953 sq ft)

Please note the residential accommodation has been measured to maximum dimensions.

Price

The guide price for the freehold with vacant possession is £575,000.

Planning

We understand that the property has planning for retail on ground, basement and first floor levels, with living accommodation on second and third floor levels.

Rates

The property has been split under a number of assessments as follows:

Rateable Value for Part Ground Floor: £5,900

Rateable Value for 9 Clarence Parade: £5,800

Apartment (Band B): £1,292.45 for 2018/19.

The above information was obtained from the Valuation Office website and Cheltenham borough Council website. Interested parties should make their own enquiries of the billing authority Cheltenham Borough Council to verify the current rates payable.

Legal Costs

Each party is responsible for its own legal costs in connection with the transaction.

VAT

VAT may be payable on the purchase price. All figures quoted are exclusive of VAT and intending purchasers must satisfy themselves as to the VAT position by taking appropriate professional advice.

EPC

The property is exempt as the building is listed.

Viewing

Strictly by appointment with sole agent KBW .

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