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Gloucestershire Business News

Retail - 3 Queens Circus, Cheltenham

The subject property comprises a mid-terrace retail property. The residential upper floors have been sold off on long leasehold interests. The ground floor offers a well configured retail showroom, with 3.37m high ceilings and a good level of natural light.

The front window display spans the width of the property allowing ample opportunity for showcasing products and services. Access to the lower ground level is via a customer staircase leading to the lower ground sales area.

The current configuration includes a small raised platform for showcasing products extending to approximately 5m x 2.22m. There is also a separate office, kitchen and WC with wash hand basin located at the rear of this level.

Direct access to the lower ground floor from Montpellier Street is available via a secondary staircase. The property is neutrally decorated, mainly laid to carpet with a combination of recessed and track spotlights on ground floor level, and fluorescent strip lighting on lower ground level. Heating is provided via night storage heaters.

EPC: The property is listed and therefore exempt.

Location details:

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 festivals attracting many visitors throughout the year.

Montpellier is situated at the end of the Promenade on the south side of the town centre. Originally developed in the 1830's in conjunction with the Spas, it is now known for its bars, cafes, restaurants and a range of specialist shops.

The subject property occupies a prominent position on the main thoroughfare between the Promenade and Montpellier, opposite the well-known Queens Hotel and Brasserie Blanc. Nearby retailers include Mandarin Stone, Contour Kitchens, Cologne & Cotton, Sarah Elizabeth Bridal Boutique, Park Gallery and McCaffreys Hairdresser.

Accommodation:

The approximate net internal floor areas are as follows:

Ground Floor Sales: 94.04 sq m (1,012 sq ft)

Basement Sales: 79.3 sq m (854 sq ft)

Basement ancillary: 8.13 sq m (87 sq ft)

Total: 181.47 sq m (1953 sq m)

Width of window display: 5.75 m (18ft 10')

Shop depth (average): 17.93 m (58 ft 9')

Guide Price:

£700,000 for the freehold interest with vacant possession on completion.

Planning:

We understand that the property has planning for A1 (retail) use on ground and lower ground levels.

Rates:

Rateable Value: £33,000

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.

VAT:

VAT may be payable on the purchase price or any other charges or payments detailed. All figures quoted are exclusive of VAT and intending purchasers must satisfy themselves as to the VAT position by taking appropriate professional advice.

Legal costs:

Each party is responsible for its own legal fees incurred in the transaction.

Contact:

KBW

01242 244744

enquiries@kbw.co.uk 

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