Retail shop let to White Stuff Limited, now part of TFG Limited.

58 Promenade is a two storey retail premises, built circa 1820-1840 with later additions. Originally built as a terrace of four houses, the conversion to shops is believed to be pre-1845, with later shop fronts.

Current usage and approximate floor areas are as follows: 

Ground Floor: 147.24 sq m (1,586 sq ft) 

Mezzanine: 28.89 sq m (311 sq ft) 

First Floor (ancillary): 86.21 sq m (928 sq ft) 

Total: 263.45 sq m (2,825 sq ft) 

The current Tenant fitted out the property in 2021 when they took occupation following a relocation from another retail unit on the Promenade.

Investment summary:

Freehold retail investment in the heart of Cheltenham.

Located in a prime section of the prestigious tree lined shopping street.

Let to White Stuff Limited (Company no. 02319237).

White Stuff Ltd was acquired in October 2024 by TFG Limited which has a portfolio of 35 retail brands in 23 countries.

Total floor area of 2,825 sq ft approx. net internal area.

Passing rent of £80,000 per annum plus turnover top up.

Reversionary rent potential of £100,000pax.

KBW Property Consultants are seeking offers of £1,440,000 for our client's interest, subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 5.24%* or a reversionary yield of 6.55% after costs of 6.07%. *Assuming no turnover top-up.

EPC: E (112).

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).

Approx. Journey Times:

Birmingham (1hr 10min)

Bristol (1hr)

Oxford (1 hr 10min)

London (2hr 30min)

58 Promenade is located on the prestigious tree lined shopping street of Promenade, in a prime section where the road becomes pedestrianised and houses the many food and craft markets throughout the year.

Nearby occupiers include Hotel Chocolat, Kuoni, Dubarry, Jigsaw, Mint Velvet and Beards Jewellers. Well connected, junction 10 of the M5 motorway is approximately 4.5 miles to the west and junction 11 approximately 7 miles to the south. 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.

Covenant and lease terms:

For more information, contact KBW Property Consultants.

VAT:

The property is elected for VAT.

Contact:

KBW Property Consultants

Richard Knightley

07917 155 760

richard.knightley@kbw.co.uk 

Laura Hatten

07769 254 158

laura.hatten@kbw.co.uk