Comprising three ground floor retail units and three self-contained residential flats (let on long leases)
Two shops let until 2030 (subject to options)
Popular neighbourhood shopping parade anchored by One Stop
Asset Management Oppertunities
£12,150 per annum exclusive, with 1 retail unit to be let
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 115
Auction 13th October 2016
Rent £12,150 per Annum Exclusive
Status Sold
Price £205,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On Behalf of Receivers CBRE
Property Information
Location
Miles
2 miles west of Cheltenham, 6 miles north-east of Gloucester, 41 miles north-west of Oxford, 43 miles north-east of Bristol Roads: A40, A417, M5 (Junction 11), M50
Rail
Cheltenham Spa Railway Station
Air
Gloucestershire Airport, Bristol Airport
Situation
The property is located 2 miles west of Cheltenham town centre on the west side of Benhall Avenue in a popular neighbourhood retail parade adjacent to the A40, an arterial route between the M5 to the west and Cheltenham to the east. The property benefits from being situated in a densely populated residential area and One Stop being a neighbouring occupier.
Tenure
Freehold.
Location
Miles
2 miles west of Cheltenham, 6 miles north-east of Gloucester, 41 miles north-west of Oxford, 43 miles north-east of Bristol Roads: A40, A417, M5 (Junction 11), M50
Rail
Cheltenham Spa Railway Station
Air
Gloucestershire Airport, Bristol Airport
Situation
The property is located 2 miles west of Cheltenham town centre on the west side of Benhall Avenue in a popular neighbourhood retail parade adjacent to the A40, an arterial route between the M5 to the west and Cheltenham to the east. The property benefits from being situated in a densely populated residential area and One Stop being a neighbouring occupier.
Tenure
Freehold.
Description
The property comprises an unbroken parade of three units which form part of a larger parade and provide ground floor retail accommodation with three self-contained residential flats on the first and second floors. The property benefits from car parking to the rear.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an unbroken parade of three units which form part of a larger parade and provide ground floor retail accommodation with three self-contained residential flats on the first and second floors. The property benefits from car parking to the rear.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
39
Ground
Retail/Ancillary
92.03 sq m
(991 sq ft)
INDIVIDUAL t/a Me Hair, Beauty & Barbers
15 years from 27/01/2015 (1)
£6,000
27/01/2020 & 27/01/2025 (26/01/2030)
41
Ground
Retail/Ancillary
93.51 sq m
(1,007 sq ft)
INDIVIDUAL t/a EnVogue
15 years from 25/09/2015 (2)
£6,000
25/09/2020 & 25/09/2025 (24/09/2030)
43
Ground
Retail/Ancillary
107.87 sq m
(1,161 sq ft)
VACANT
39A, 41A & 43A
First & Second
3 x Two bedroom flats
-
(-)
INDIVIDUALS
3 x 99 years from 25/12/1985
£150
Fixed increases in 2018 & 2051 (24/12/2084)
Total Commercial Area
293.41 sq m
(3,159 sq ft)
£12,150
(1) The lease provides for a tenant option to determine on 27th January 2018. (2) The lease provides for a tenant option to determine on 25th September 2018. NB: The seller has served notices on the residential lessees under Section 5B of the landlord and Tenant Act 1987.
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS1 2HL
