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Office For Sale Cheltenham
PROPERTY ID: 124321
PROPERTY TYPE
Office
STATUS
Under Offer
SIZE
2,121 sq.ft
Property Details
Best And Final Offers Received. Prime Regency Cheltenham Office Investment With 10+ Years Of Secure Lease Income And Tenanted By Local Law Firm. The Passing Rent Of £34,756 Per Annum Represents A Net Initial Yield (niy) Of 7% Assuming 4.5% Purchasers Costs. The Property Comprises An Imposing Five Storey Period Semi-detached Office Building, Of Relatively Shallow Depth, With Central Staircase And One Room On Either Side Per Floor, Except On 3rd Floor Level Where There Are Shared Wcs, A Kitchenette And Two Additional Rooms. The Staircase From Ground To Basement Level Internally Has Been Removed And Access To The Basement Is Via An External Staircase At The Front Of The Property. The Property Is Accessed Off Albion Street With An Existing Splay And Dropped Kerb. The Property Extends To 0.07 Acres And Is Broadly Rectangular. The Boundaries To The South And West Are Bound By Wrought Iron Railings. The Car Parking Area Is Gated, Tarmac Surfaced And Lined Providing 7 Parking Spaces And Side Storage Area. - Continuous Occupation By Existing Tenant Since 2012. - Secure Income Stream For A Further 10+ Years With No Break Clause. - Rent Reviews Every 4 Years. - Property Refurbished Prior To Recent Lease Renewal. The Property Fronts Both North Place And Albion Street In Central Cheltenham, A Large Spa Town And Borough On The Edge Of The Cotswolds, In The County Of Gloucestershire. A Short Distance To The South Is The Main High Street, Which Provides A Quantum Of Independent Retailers, Restaurants And Bars. Surrounding The Property Are Several Offices And Retail Premises. Transport Links To The Property Are Very Good. With A Population Of 117,000 The Town Is A Progressive Centre For Employment, Drawing On A Strong Regional Catchment. Major Employers Include Gchq And The Nearby Golden Valley Development Is The Uks Focal Point Of Activity In Cyber Security. *please See The Marketing Brochure For Lease Terms.
About the Agent
Bruton Knowles
See Agent's Other PropertiesOffice Unit
£475,000 Freehold
Commercial Investment,1 North Place, Cheltenham, GL50 4DW
Office -
Under Offer
2,121 sq ft
197 sqm
Enquiry Form
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