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153-155 High St 12,040 sq ft Retail Property Cheltenham GL50 1EW £2,500,000 (£207.64/sq ft)
INVESTMENT HIGHLIGHTS
- Substantial corner property
- Potential for a future conversion of the substantial upper floor office accommodation
- Position on High Street, the town’s principal retail thoroughfare
EXECUTIVE SUMMARY
Offers sought in excess of £2,500,000(Two Million Five Hundred Thousand Pounds) subject to contract and excluding VAT.
The property occupies a prominent corner location in a 100% prime position on High Street, the town’s principal retail thoroughfare. The property benefits from excellent footfall being situated equidistant between the town’s key anchor stores John Lewis and Marks & Spencer.
The entire property is let to TSB Bank plc by way of a full repairing and insuring lease from 2 December 2020, expiring on 1 December 2025 at a rent of £250,000 pa. There is an additional Reversionary Lease for a term of 5 years from 2 December 2025, expiring 1 December 2030 which is subject to a day one rent review on 2 December 2025 to the greater of £160,000 pa or the open market rental value.
The property occupies a prominent corner location in a 100% prime position on High Street, the town’s principal retail thoroughfare. The property benefits from excellent footfall being situated equidistant between the town’s key anchor stores John Lewis and Marks & Spencer.
The entire property is let to TSB Bank plc by way of a full repairing and insuring lease from 2 December 2020, expiring on 1 December 2025 at a rent of £250,000 pa. There is an additional Reversionary Lease for a term of 5 years from 2 December 2025, expiring 1 December 2030 which is subject to a day one rent review on 2 December 2025 to the greater of £160,000 pa or the open market rental value.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bank
Property Size
12,040 sq ft
Costar Property Class
B
Year Built
1927
Price
£2,500,000
Price per sq ft
£207.64
Tenancy
Single
Number of Floors
4
Plot ratio
2.37
Total Plot Size
0.12 ac
Frontage
AMENITIES
- 24 Hour Access
- Corner Lot
- Security System
- Signage
- Skylights
- Storage Space
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
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153-155 High St
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