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Gloucestershire Business News

The former Edinburgh Woollen Mill premises, 26 High Street, Broadway, Cotswolds

26 High Street comprises a period property planned over three levels.

Ground Floor sales with two upper floors of ancillary accommodation having potential separate access via a passage to one side of the building. The most recent use of the ground floor and upper commercial areas has been essentially as retail use. The commercial area now falls within Class E.

Energy performance certificate (EPC): This is being applied for.

Location:

Broadway is a well-known tourist destination in the North Cotswolds. It lies approximately equidistant between Cheltenham and Stratford upon Avon (approximately 15 miles).

The property is located between Lloyds Pharmacy and Hayman Joyce Estate Agents. There is a broad range of facilities in Broadway with a particular leaning to art galleries and antique shops.

Traders include oka, Four Corners Trading, Cotswold Trading Company, Landmark, Slate Clothing, Broadway Museum, Lygon Arms and Rikki Tikki. Broadway is a significant tourist centre.

Accommodation:

Approximate dimensions and net internal areas

Internal width at the front approx. 9.2 m

Internal depth of the shop approx. 36.19 m

Internal width of the rear approx. 7.05 m

Retail area 2,867 sq ft (266.3 sq m)

Side access

First Floor 831 sq ft (77.21 sq m)

Including landing, stock and office areas, kitchen and WC.

Second Floor 908 sq ft (84.35 sq m)

Including landing, training room and other ancillary space.

Price:

The premises are available by way of a new lease for a period of years to be agreed incorporating periodic upward only rent reviews at the end third year of the terms.

Initial annual rent guide £65,000 per annum exclusive of outgoings for the entire building. Full repairing and insuring lease.

Planning:

Previous use retail. New Planning Use Class E for wider scope than just retail.

Services:

Mains electricity, water and drainage are connected.

Rateable value:

The premises are assessed at a Rateable Value of £34,250 with effect from 1st April 2017.

Source: Valuation Office Agency website. See notes overleaf.

Lease terms:

The premises are available by way of a new lease for a period of years to be agreed incorporating periodic upward only rent reviews at the end third year of the terms. Initial annual rent guide £65,000 per annum exclusive of outgoings for the entire building. Full repairing and insuring lease.

The tenant will be responsible for payment of the insurance premium for the building.

Consideration would be given to a letting of the ground floor only at a rental of £62,500 per annum exclusive of outgoings.

RICS code for leasing business premises:

A copy of the RICS Code for Leasing Business Premises is available on request, and can be located by clicking the following link: code-for-leasing_ps-version_feb-2020-1.pdf (rics.org) 

VAT:

The property is elected for VAT and therefore VAT will be chargeable on rent, service charge and insurance costs arising.

Legal costs:

Each party are to be responsible for their own legal costs arising.

Contact:

John Ryde Commercial

01242 576276

paulmaguire@johnryde.co.uk 

Bruton Knowles

01452 880 000

robert.smith@brutonknowles.co.uk 

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