Attractive building entirely let to Moss Bros on a new 5 year lease until August 2028 (No Breaks)
Prominent position on pedestrianised High Street
Nearby occupiers include Marks and Spencer, Pret a Manger, Costa Coffee, KFC and Mountain Warehouse
Affluent and Historic Spa Town
Lot 25
Auction 21st September 2023
Rent £80,000 per Annum Exclusive
Status Sold
Price £772,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
8 miles north-east of Gloucester
Roads
M5, A40, A4019
Rail
Cheltenham Spa Railway Station
Air
Bristol Airport, Birmingham Airport
Situation
Cheltenham is a large and historic Spa Town on the edge of the Cotswolds approximately 8 miles north east of Gloucester and 35 miles north east of Bristol. The property is well situated in the heart of Cheltenham's busy and attractive centre. The property is prominently positioned on the corner of the pedestrianised High Street and Pittville Street. Nearby occupiers include Marks and Spencer, Pret a Manger, Costa Coffee, KFC, Mountain Warehouse and many further national and luxury retailers.
Tenure
Freehold.
Location
Miles
8 miles north-east of Gloucester
Roads
M5, A40, A4019
Rail
Cheltenham Spa Railway Station
Air
Bristol Airport, Birmingham Airport
Situation
Cheltenham is a large and historic Spa Town on the edge of the Cotswolds approximately 8 miles north east of Gloucester and 35 miles north east of Bristol. The property is well situated in the heart of Cheltenham's busy and attractive centre. The property is prominently positioned on the corner of the pedestrianised High Street and Pittville Street. Nearby occupiers include Marks and Spencer, Pret a Manger, Costa Coffee, KFC, Mountain Warehouse and many further national and luxury retailers.
Tenure
Freehold.
Description
The property comprises an attractive building arranged to provide retail accommodation on the ground floor and ancillary accommodation on the first and second floors.
189 High Street & 3 Pitsville Street are being offered for sale separately as Lot 5.
VAT
VAT is applicable to this lot.
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 attractive building arranged to provide retail accommodation on the ground floor and ancillary accommodation on the first and second floors.
189 High Street & 3 Pitsville Street are being offered for sale separately as Lot 5.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement First Second
Retail Ancillary Retail Ancillary
185.02 66.84 198.91 49.04
(1,991) (719) (2,141) (527)
MOSS BROS GROUP LIMITED (CRN: 00134995) (1)
5 years from 07/08/2023 (2)
£80,000
Total
499.81
(5,377) (3)
£80,000
(1) For the year ending 28/01/2023 Moss Bros Group Ltd reported a turnover of £151,579,000 a Pre-Tax Profit of £33,195,000 and a Net Worth of £36,318,000 (NorthRow 31/08/2023). (2) The lease provides for a rent free period until 28/08/2024. The seller will pay to the buyer the rent that would have been due from completion of the sale until the end of the rent free period. (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
