108 Promenade, Cheltenham
The subject premises comprise a Grade II listed corner unit with prominent window frontage, situated between the Promenade and Imperial Lane.
The premises provide ground floor retail space with a width of 6.66m and a depth of 24m. There is additional mezzanine retail space easily accessed via a well-presented staircase at the front of the unit with another small mezzanine area adjacent which could be used for display purposes.
The first floor provides a spacious ancillary area with an office, kitchen, and staff WC. A goods lift connects each floors and there is ceiling mounted air conditioning on both the ground and mezzanine floors.
There is potential to convert the property's flat roof to accommodate outdoor seating for restaurant or café use, subject to consent.
EPC: The building has an energy performance rating of C (52). Copy available upon request.
With a population of around 120,000, Cheltenham is an important regional shopping location serving an extensive catchment area.
The town is renowned for its range and quality of shopping and the various important race meetings which attract many visitors throughout the year.
The subject property occupies a prominent corner position on Promenade, which connects the High Street to Montpellier.
Nearby occupiers include Anthropologie, The White Company, Crew Clothing, Russell & Bromley and Sweaty Betty.
The approximate Net Internal Floor Area (NIA) is as follows:
Ground floor retail: 145.39 sq m (1,565 sq ft)
Ground floor ancillary: 6.41 sq m (69 sq ft)
Mezzanine (adj. stairs): 2.3 sq m (25 sq ft)
Mezzanine Retail: 84.01 sq m (904 sq ft)
Mezzanine Ancillary: 22.34 sq m (240 sq ft)
First Floor Ancillary: 97.25 sq m (1,047 sq ft)
Total: 357.8 sq m (3850 sq ft)
£105,000 per annum exclusive.
Available on a new (effectively) full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews.
Current Rateable Value: £132,000
Draft Rateable Value (2023): £87,000
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.
Code for leasing business premises (2020):
All tenants should be aware of the Code for Leasing Business Premises and are recommended to seek professional advice relating to this, or any, commercial property letting transaction.
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.
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