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10-14 Promenade

Promenade
Cheltenham, GL50 1LR

Use Class E

1,589 sq ft

£800,000

Use Class

E

Size

1,589 sq ft

Price

£800,000

Marketed by Savills UK & Ireland

Last updated 20/07/2020
10-14 Promenade
Retail Investment for Sale

Key Points

  • Located in Cheltenham, one of the UK's wealthiest towns
  • 5 year FRI lease from March 2018 to London Camera Exchange Ltd – 2A 1 covenant
  • Passing rent £55,000 per annum
  • Seeking offers in excess of £800,000 which equates to a net initial yield of 6.5%
The property comprises a regency building arranged as two ground floor shops with ancillary accommodation in the basement and on the two floors over. 

The property is Grade II listed and forms part of the Cheltenham conservation area.
The property is situated in a prime location just off the pedestrianised section of Promenade, close to the junction with the High Street. 

The Brewery Quarter and the newly opened Urban Outfitters are a short walk from the property.

The property is immediately adjacent to TM Lewin and Keith Scarrott Shoes and close to Costa, The Coventry Building Society, Starbucks, Rymans, Boots and Primark.

Tenure

Freehold - The entire property is let to the London Camera Exchange Ltd on a full repairing and insuring lease for a term of 5 years from 27 March 2018 at a rental of  £55,000 per annum.  14 Promenade is sub let to Carron Mann Ltd t/a Silver Moon on an annual basis  at a rental of £13,000 pa.

Accommodation

Accommodation details below:

Areas

sq ftsq m
10/12 Promenade - Ground Floor Sales38836
10/12 Promenade - Ground Floor ITZA35032.5
10/12 Promenade - Basement Ancillary 45141.9
10/12 Promenade - First Floor Ancillary 29327.2
10/12 Promenade - Second Floor Ancillary30628.4
14 Promenade - Ground Floor Sales787.25
14 Promenade - Basement Ancillary1009.29

Financial

Purchase Price

£800,000

Rent

The current income is £55,000 pa.

Last Updated

20/07/2020

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2021 Completely Property Technology Limited

Savills UK & Ireland

Savills UK & Ireland

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