First Floor, 121 Promenade, Cheltenham
The available accommodation comprises the first floor with two front offices overlooking the gardens, as well as a rear office which incorporates under stairs storage.
There is also a dedicated kitchen and WC facility for use of the occupiers on the first floor. The offices are due to be redecorated throughout.
Use of two small car parking spaces to be included with the offices.
EPC: The building has an EPC rating of D (87).
Cheltenham benefits from good transport connections to the Midlands and South West with Junctions 10 & 11 of the M5 motorway located approximately 4 miles to the West of the town centre providing direct access to Bristol and Birmingham.
The A417 (dual carriageway) provides good access to the M4 motorway and London. Cheltenham has regular train services to London Paddington (1 hour 55), Birmingham (40 mins) and Bristol (45 mins).
The subject property is located within Promenade overlooking Imperial Square; the established central office district of Cheltenham. This is a fine example of a classic period building occupying a desirable location overlooking Promenade and Imperial Gardens.
The approximate net internal floor areas are as follows:
First Floor Office front left: 20.32 sq m (219 sq ft)
Office front right: 30.81 sq m (332 sq ft)
Office rear: 24.65 sq m (265 sq ft)
Store rear: 3.57 sq m (38 sq ft)
Kitchen: 9.38 sq m (101 sq ft)
Total: 88.1 sq m (955 sq ft)
£29,500 per annum exclusive.
The property has most recently been used as an Office which falls under the new Class E use class.
Class E includes a range of uses such as office, retail, professional services, clinic and medical, and some leisure.
Available on a new (effectively) full repairing and insuring lease from 13th November 2022 for a term of years to be agreed incorporating regular upward only rent reviews. Subject to vacant possession.
A service charge will be levied to cover the ongoing running, maintenance and repair costs of the building.
Rateable Value: £11,750.
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. Small business rate relief may be achievable.
Code for leasing business premises (2020):
Tenants should be aware of the Code for Leasing Business Premises and are recommended to take professional advice relating to this, or any other, 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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