This Grade II Listed Regency mid-terrace property has a main entrance accessed via Imperial Square, leading into Class E accommodation over four floors.

Formerly one of 13 terrace houses, built circa 1830s by Robert Todd and William Prosser. Stucco over brick with concealed, double pitched roofs. 

The building has many fine period features including Regency style moulding, high ceilings and large sash windows, and externally boasts iron railings, verandas and roll-edged entrance steps.

The ground, first and second floors are let to a single office tenant, with its own entrance, kitchen and WC facilities. 

The lower ground floor houses a physiotherapist for the main part, again self-contained with a front and rear entrance, its own kitchen and WC facilities. A courier provider has a lease of a single room at the rear of the lower ground floor. There are five allocated car parking spaces which are allocated between the occupiers.

Investment summary:

Freehold regency building, now multi-let offices in the prestigious and sought-after location of Imperial Square.

Located on the inner ring road, opposite Cheltenham Town Hall & Imperial Gardens which play host to many festivals throughout the year.

Net Internal Area of approx 3,450 sq ft (320.52 sq m).

Passing rent of £54,275 per annum exclusive.

KBW Property Consultants are seeking offers of £950,000 for their client's interest, subject to contract and exclusive of VAT.

A purchase at this level would reflect a net initial yield of 5.4%, after allowing for purchaser's costs of 5.7%.

EPC: E (116).

Location:

Cheltenham is a spa town located in Gloucestershire, famous for its Regency architecture as well as various festivals that attract visitors throughout the year. It is also home to the UK's intelligence, security and cyber agency; GCHQ (Government Communications Headquarters).

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 its various festivals attract many visitors throughout the year. 

The subject property is located within Imperial Square; the etablished central office district of Cheltenham, overlooking the Town Hall and Imperial Gardens just a short walk from the Promenade shopping area.

Well connected, junction 10 of the M5 motorway is approximately 3 miles to the north west and junction 11 approximately 4 miles to the west. Cheltenham is located approximately 42 miles from Bristol, 68 miles from Birmingham and 100 miles from London. Cheltenham Spa Railway Station provides direct services to London, Bristol and Birmingham.

Approx. Journey Times:

Birmingham (1hr 10min)

Bristol (1hr)

Oxford (1 hr 10min)

London (2hr 30min)

Accommodation:

The approximate net internal floor areas are as follows:

Lower Ground Floor: 1,035 sq ft (96.16 sq m)

Ground Floor: 922 sq ft (85.66 sq m)

First Floor: 855 sq ft (79.43 sq m)

Second Floor: 638 sq ft (59.27 sq m)

Total: 3,450 sq ft (320.52 sq m)

Covenant:

Six Property Consulting Ltd are property consultants specialising in building surveying, design, project management and quantity surveying. HQ operations from Imperial Square in Cheltenham. 

Six Property Consulting Ltd Company Number: 09911552 Creditsafe Rating B - 68. Contract Limit £30,000. Credit Limit £20,000.

DX Networking Services Limited provides next day delivery services for mail, parcels and deliveries to both residential and business addresses, DX provides secure solutions. 

DX Network Services Limited Company Number: 05026914 Creditsafe Rating A - 100. Contract Limit £132,500,000 Credit Limit £6,300,000

Pea Green Rehab & Training Ltd is part of Pea Green Physio. They specialise in physiotherapy, sports massage and rehabilitation. They have a branch in Bicester and one in Cheltenham at Imperial Square. 

Pea Green Rehab & Training Ltd Company Number: 09240442 Creditsafe Rating C - 40. With guarantee from Pea Green Physio Ltd. Company Number: 07164832 Creditsafe Rating C - 40.

Creditsafe ratings stated correct as at February 2025.

Lease terms:

Ground, First & Second Floors

Six Property Consulting Ltd

2,415 sq ft

Lease term: 5 years from 28/03/2022 to 27/03/2027

Passing rent: £36,000 per annum exclusive

Upcoming March 2025 rent review. TBO March 2025, subject to 9 months' notice (minimum notice period now passed). 4 x car parking spaces allocated. Ex Act. SoC.

Lower Ground (front)

Pea Green Rehab & Training Ltd

895 sq ft

Lease term: 6 years from 14/02/2020 to 13/02/2026

Passing rent: £14,025 per annum exclusive

Passing rent agreed as at Feb 2023 rent review. Break not exercised. 1 x car parking space allocated. Ex Act. Guarantor.

Lower Ground (rear)

DX Network Services Ltd

140 sq ft

Lease term: 3 years from 01/09/2024 to 31/08/2027

Passing rent: £4,250 per annum exclusive

Inside the Act lease.

Contact:

KBW Property Consultants 

Richard Knightley

07917 155 760

richard.knightley@kbw.co.uk 

Laura Hatten

07769 254 158

laura.hatten@kbw.co.uk