12 Regent Street, Cheltenham
The building forms part of a terrace of Grade II Listed regency period buildings in a popular position on Regent Street. No. 12 is a three-storey building with retail over lower ground, ground and first floors.
There is listed building consent and planning consent for 11 & 12 Regent Street together for a change of use from retail use (Class A1) to a restaurant use (Class A3) together with the removal of an existing extension, erection of a new extension, provision of extraction equipment, replacement windows and internal alterations.
With a population of around 120,000, Cheltenham is an important regional centre within the heart of the Cotswolds. The town serves an extensive catchment area and is renowned for its range and quality of shopping and its various festivals attract many visitors throughout the year.
The property occupies a central location on Regent Street close to the town's Promenade shopping parade, High Street and Regent Street entrance to the Regent Arcade Shopping Centre.
The location is popular with retailers, restaurants and cafes, with the subject property directly opposite House of Fraser department store and adjacent to the Everyman Theatre. Other nearby restaurants and cafes includes Carluccio's, Caffé Nero, Woodkraft, Domain 16 and The Find.
Public parking is available nearby within Rodney Road and Regent Arcade car parks.
The approximate net internal floor areas are as follows:
Lower ground floor sales: 50.37 sq m (542 sq ft)
Lower ground floor ancillary: 30.6 sq m (330 sq ft)
Ground floor sales: 79.84 sq m (859 sq ft)
First floor ancillary: 41.94 sq m (451 sq ft)
Total: 202.75 sq m (2,182 sq ft)
Possibility to combine with 11 Regent Street (available to purchase), which would provide an additional 147.9 sq m (1,592 sq ft).
£48,000 per annum exclusive for 12 Regent Street.
Number 11 is available to purchase separately.
Rateable Value: £32,500
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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