Chartered Surveyors

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Under Offer
Commercial Investment 1 North Place
Cheltenham, South West GL50 4DW
United Kingdom
Sq ft
Sq m
Category Office, Investment
CODE 6796
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.

View Brochure

William Matthews
Olympus House, Olympus Park Quedgeley, Gloucester GL2 4NF
01452 880152
These particulars are intended as a general guide only and do not constitute any part of an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility. Intending purchasers or tenants should satisfy themselves as to the accuracy of all statements and representations before entering into any agreement. No employee or partner of Bruton Knowles has authority to make or give any representation or warranty in relation to the property.