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Gloucestershire Business News

Development - Dowty House, St Margaret’s Road, Cheltenham

The Property comprises a prominent and substantial two storey period building dating from circa 1866. The building was most recently used as a care home.

The consented scheme comprises 7 apartments within the original building and 21 apartments in a contemporary style new build block.

The majority of the new build upper level apartments have been designed with balconies or a roof terrace.

Externally there will be up to 8 on site car parking spaces and cycle storage facilities.

The Property is situated on an approximate site area of 0.2 hectares (0.495 acres).

Energy Performance Certificate

The Energy Performance Certificate rating is C (62) (August 2018). The full certificate and recommendations can be provided on request.

Development Proposal/Planning

The Property benefits from planning approval "Conversion and extension of building to create 28 no. apartments (5 one bed and 23 two bed) following demolition of existing rear extensions" - (ref 18/01973FUL).

The Section 106 dated 21 December 2018 confirms the following financial contributions:

£91,113 - Affordable Housing (indexed)

£57,331 - Tree planting and maintenance (indexed)

Cheltenham Borough Council's planning website confirms the Property is subject to a Local Listing.

The planning consent was granted prior to the introduction of CIL.

Location details

The Property is situated fronting St Margaret's Road in the section between Monson Avenue, North Place car park (major central area development site) and Northfield Passage.

Directly opposite the Property is the recently extended retail and leisure scheme, The Brewery Quarter.

Accommodation

28 apartments totalling 20,872 sq ft (1,939 sq m)

Information Pack

Additional information including planning consent, Section 106, scheme drawings and surveys are available in pdf format.

Services

We are advised that all main services are connected or available.

We have not tested the service installations and interested parties are invited to satisfy themselves as to the availability and cost of upgrading any service connections.

Terms

Sale of the freehold interest with vacant possession on completion.

Guide Price

Offers in excess of £2,000,000.

The purchaser to be responsible for all Section 106 financial contributions.

Method of Sale

Details relating to the method of sale will be confirmed during the marketing period.

Council Tax

The Valuation Office Agency Website confirms a Band G assessment. Interested parties are advised to make their own enquiries of the Local Billing Authority, Cheltenham Borough Council.

VAT

Under the Finance Acts 1989 and 1997, VAT may be levied on the sale price. We recommend that the prospective purchaser establish the implications before entering into any agreement.

Legal Costs

Each party is to be responsible for their own legal costs incurred in the transaction.

Contact:

Alder King Property Consultants

Philip Pratt

01452 627123

ppratt@alderking.com

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