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Gloucestershire Business News

Upper Floors, 23 and 25 Promenade, Cheltenham

Accessed via Promenade with its own entrance between Huffkins and Bella Italia, the subject premises comprise the upper floors of buildings 23 and 25 Promenade. The first floor provides a well configured and largely open plan L-shaped salon plus a staff kitchen and reception area.

This first-floor accommodation is benefited by the additional conservatory overlooking Promenade which provides both exceptional natural light and increases the prominence of the premises.

The second and third floors are accessed via one of two staircases, currently one customer facing and the other back of house. The second-floor accommodation comprises a number of rooms used for beauty treatments and staff facilities. There is a second-floor mezzanine providing separate WC facilities. This floor has good natural light and offers scope for more open plan space with the removal of some stud partitions.

The third floor is split into two areas, each accessed via a separate staircase. This floor is currently used for storage.

Whilst the premises have been occupied by a hairdressing and beauty salon for a number of years, alternative uses will be considered (subject to planning).

Location

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 premises occupy a prominent first, second and third floor position on Promenade, directly opposite Cavendish House. Nearby occupiers include a varied mix of retailers such as House of Fraser, Space NK, Bella Italia, Huffkins, Radley, Waterstones, Natwest, Fat Face, Oliver Bonas, Café Rouge and Royal Bank of Scotland.

Accommodation

The approximate net internal floor areas are as follows:

First Floor: 180.61 sq m (1,944 sq ft)

Second Floor: 91.24 sq m (982 sq ft)

Third Floor: 67.74 sq m (729 sq ft)

Total: 339.59 sq m (3,655 sq ft)

Terms

Available on a new (effectively) full repairing and insuring lease for a term of years to be agreed incorporating regular upward only rent reviews. Rent £35,000 per annum exclusive.

Rent

£35,000 per annum exclusive.

Rates

Rateable Value: £32,250

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.

Legal Costs

Each party to bear its own legal costs incurred in the transaction.

VAT

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.

EPC

The property is listed and therefore exempt.

Viewings

By prior appointment with the sole agent KBW.

T. 01242 244744

E. enquiries@kbw.co.uk

W. www.kbw.co.uk

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