Restaurant/cafe for sale in Cheltenham GL52

Guide price £375,000 < Back to search results

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Property Description

Cheltenham is a Regency Spa town having a population of 115,000 (source Office for National Statistics 2010), located approximately 99 miles to the west of London and midway between Bristol and Birmingham adjacent to junction 11 of the M5 motorway with dual carriageway access to London via the A417/419 and M4 motorway. Railway services are to London Paddington (2 hours 10 mins).

The town hosts several major international festivals for science, literature, music, and national hunt racing.

18 Winchcombe Street is located in the town centre, with Winchcombe Street leading directly to Cheltenham’s High Street and the inner ring road.

Nearby occupiers include Halifax Bank, Ladbrokes, a-Plan Insurance, and a variety of independent & multiple traders.

18 Winchcombe Street comprises a Grade II Listed mid-terraced building of traditional stucco plastered brick elevations under a hipped and pitched roof.

Of particular note are the frieze and cornice detailing to the front party wall elevations and the wrought iron balcony.

The ground floor and basement are subject to an occupational lease and the upper floors are vacant.

Internally, the ground floor comprises a restaurant with a commercial kitchen to the rear, which measures to an approximate Net Internal Area of 445 sq ft (41.41 sq m).

There is a storage area accessed via the rear courtyard.

The upper floor flat benefits from a separate access to the ground floor and measure to an approximate Net Internal Area of 585 sq ft (54.31 sq m). They are currently vacant and Listed building consent has been obtained under reference number 21/02661/lbc for a replacement front door and internal/external alterations.

The ground floor and basement demise are subject to an occupational lease dated 1st June 2012, which expires 31st May 2027.

The rent passing is £14,000 per annum exclusive and there is a rent review due on 1st June 2024, likewise a tenant’s break option.

The lease is within the security of tenure provisions of the Landlord & Tenant Act 1954 Part II.

Subject to Contract
The Vendor proposes disposing of the Freehold interest on an unconditional basis, subject to the existing occupational lease of the ground floor and basement, and providing vacant possession of the upper floors on completion.

Unconditional proposals are invited based on £375,000.

The property is elected for VAT.

Location

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