94 - 96 High Street, Cheltenham, GL50 1EG

The property is located in the Spa town of Cheltenham. There are excellent road communications with the M5 motorway lying on the Western fringes of the town and the main A40 road providing access to the West Country, Oxford and London to the East.

The property is situated in the pedestrianised area of Cheltenham’s High Street, close to its junction with Bath Road. This is a well-established retail location and major occupiers include a Sainsburys Convenience Store, Shoe Zone, Subway and Iceland. In addition, there are a number of public houses and cafes in the immediate area.

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The Rateable Value for the shop and premises on the Valuation Office Agency website is £22,500.
The current council tax for the HMO is currently running at £1,971.80 for the year 2024/2025.

(Approx net internal)

The ground floor has been used as retail premises within Class E of the Use Classes Order 1987. The current HMO Licence for the premises expires on 20th September 2024 and is available on request.

Terms

The property is offered freehold subject to the occupational tenancies in place. Offers in excess of £650,000. A purchase at this level reflects a gross yield of 8.91 %. net yield of 8.49% after the purchaser’s costs. This is based on the HMO being fully let at the current rental figures quoted.

VAT

The property is not elected for VAT purposes.

Legal Costs

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

ASH Chartered Surveyors for themselves and for the vendors or lessors of this property for whom they act, give notice that:

1. these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract;
2. ASH Chartered Surveyors cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy;
3. no employee of ASH Chartered Surveyors has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property;
4. rents quoted in these particulars may be subject to VAT in addition; (v) ASH Chartered Surveyors will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars; and
5. the reference to any plant, machinery, equipment, services, fixtures or fittings at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function. Prospective purchasers/tenants should satisfy themselves as to the fitness of such items for their requirements.

Code of Practice for Commercial Leases in England and Wales

You should be aware that the Code of practice on commercial leases in England and Wales strongly recommends you seek professional advice from a qualified surveyor, solicitor or licenced conveyancer before agreeing or signing a business tenancy agreement. The Code is available through professional institutions and trade associations.

Money Laundering Regulations

As part of our obligations under the UK Money Laundering Regulations 2017, ASH will require any tenant/purchaser to provide proof of identity along with any other required documentation to satisfy anti-money laundering regulations.