15 Clarence Parade, Cheltenham
A five-storey end of terrace period building with commercial retail space on the ground and basement levels and three self-contained studio apartments on the upper floors.
The commercial space has a large window display fronting Clarence Parade at ground floor level with a large useable basement below. The premises have most recently been used as a travel agency, but other uses could be considered (subject to planning). The commercial space has its own WC and kitchenette facilities.
Each apartment has a fitted kitchen with base and eye level units, open plan living/dining accommodation and a separate shower room with shower cubicle, WC and wash hand basin. The apartments have natural light from two elevations, and two of the apartments have a mezzanine sleeping area within the living accommodation.
The property has a small external courtyard area to the rear of the property for use by the commercial occupiers.
EPC: EPC D (89) for the ground floor and basement. EPCs have been commissioned for the upper floors.
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 which attract many visitors throughout the year.
The subject premises occupy a prominent position on Clarence Parade, part of the inner ring road system of Cheltenham. The property is well positioned for easy access to the town's famous Promenade, High Street and Brewery Quarter. The property is also a short distance to the central bus station in Royal Crescent.
As well as other independent retailers, there are numerous restaurant venues in close-proximity including Wagamama, Revolution, Bank House and the Mayflower. 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.
The approximate net internal areas and dimensions are as follows:
Ground Floor: 53.72 sq m (578 sq ft)
Basement: 34.5 sq m (372 sq ft)
Total: 88.22 sq m (950 sq ft)
The ground and basement floors provide a commercial retail unit. The upper floors provide three studio apartments currently let on Assured Shorthold Tenancies.
Living Area: 4.93 m x 5.03 m with mezzanine sleeping area above part
Kitchen: 3.17 m x 3.00 m Separate Shower Room.
Living Area: 4.92 m x 5.01 m
Kitchen: 3.07 m x 2.30 m
Separate Shower Room.
Living / Kitchen: 8.15 m x 4.88 m
Mezzanine sleeping area: 5.14 m x 1.54 m
Separate Shower Room.
£400,000 for the freehold interest, subject to the existing tenancies. Consideration may be given to a long leasehold sale of the ground and basement floors separately.
Alternatively, consideration will be given to a letting of the commercial ground and basement floors at a rent of £12,000 per annum exclusive.
Ground Floor Rateable Value: £6,500 Council Tax Bands for all apartments: A 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 purchase price 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.
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