£585,000
(£243.14/sq. ft)
Retail premises for sale11 Rotunda Terrace, Cheltenham GL50
2,406 sq. ft
About this property
No VAT
Mid Terrace Attractive Period Property In The Popular Montpellier District
Wide Pavement To Front With Parking Spaces At The Rear
1 Commercial Tenant & 2 Residential Tenants
Cheltenham is UK’s most complete Regency town and has established itself as a significant retail and business destination. The Government Communications Headquarters (gchq) is located on the western side of town employing over 7,000 people with a new cyber park now underway to boost Cheltenham’s claim as “national centre for cyber security”.
Other significant employers include ucas, Ontic and ge Aviation whilst Superdry and Spirax Sarco both have their headquarters in the town.
Known as the “the home of National Hunt Racing”, Cheltenham features the Gold Cup meeting in March each year and hosts the International Literature Festival (October) plus jazz (April/May) and music festivals (June) each year. The Cheltenham Ladies College, Pates Grammer School, Cheltenham College and Dean Close School offer excellent schooling.
Located in the popular Montpellier District on the south side of the town centre, popular with speciality retailers, leisure and food and drink businesses. Immediate neighbours include Spa Pharmacy, Regency Candlesticks and Interiors, And So to Bed, Montpellier massage and beauty and Sanctuary and Sage. Virtually opposite, All Bar One, and near to Harry Cook and the Ivy restaurant.
Mid Terrace Grade II Listed Building planned over four levels with front elevation of natural stone facing above shopfront. Rear elevation in render. The property fronts a wide pavement. Four parking spaces in tandem, at the rear with access off a private lane.
The commercial tenant is a long standing tenant with a good rent payment record. The residential tenants also have good rent payment records. There may be scope for increasing the rents for the residential elements of the property.
Subject to Contract
The total rents receivable from the three tenants amount to £41,360 per annum.
Price guide of £585,000 to purchase the freehold interest, subject to the existing tenancies. A purchase at this level would show a gross initial yield of 7.07%.
The property is currently not elected for VAT.
Other significant employers include ucas, Ontic and ge Aviation whilst Superdry and Spirax Sarco both have their headquarters in the town.
Known as the “the home of National Hunt Racing”, Cheltenham features the Gold Cup meeting in March each year and hosts the International Literature Festival (October) plus jazz (April/May) and music festivals (June) each year. The Cheltenham Ladies College, Pates Grammer School, Cheltenham College and Dean Close School offer excellent schooling.
Located in the popular Montpellier District on the south side of the town centre, popular with speciality retailers, leisure and food and drink businesses. Immediate neighbours include Spa Pharmacy, Regency Candlesticks and Interiors, And So to Bed, Montpellier massage and beauty and Sanctuary and Sage. Virtually opposite, All Bar One, and near to Harry Cook and the Ivy restaurant.
Mid Terrace Grade II Listed Building planned over four levels with front elevation of natural stone facing above shopfront. Rear elevation in render. The property fronts a wide pavement. Four parking spaces in tandem, at the rear with access off a private lane.
The commercial tenant is a long standing tenant with a good rent payment record. The residential tenants also have good rent payment records. There may be scope for increasing the rents for the residential elements of the property.
Subject to Contract
The total rents receivable from the three tenants amount to £41,360 per annum.
Price guide of £585,000 to purchase the freehold interest, subject to the existing tenancies. A purchase at this level would show a gross initial yield of 7.07%.
The property is currently not elected for VAT.
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