61 High St 1,830 sq ft 100% Let Retail Property Cheltenham GL50 1DU £285,000 (£155.74/sq ft) 8.77% Net Initial Yield

Investment Consideration:
Comprises three-storey retail premises (Class E)
Benefits from strong public transport links, with several bus services operating along the High Street
Occupiers nearby include Iceland, Betfred, Subway, Restaurants, Hair Salon and many more.
Property Description:
Comprises ground floor retail shop with ancillary accommodation at basement, first and second floor, providing the following accommodation and dimensions:
Ground Floor: 54 sq m (580 sq ft)
Open plan retail, storage, wc
First Floor: 46 sq m (500 sq ft)
Ancillary, storage
Second Floor: 46 sq m (500 sq ft)
Ancillary, storage
Basement: 23 sq m (250 sq ft)
Storage
Total GIA: 169 sq m (1,830 sq ft)
Tenancy:
The entire property is at present let to The Town The Cross Ltd (with personal guarantee) for a term of 10 Years from 2nd September 2026 at a current rent of £25,000 p.a. Rent review every 3 years linked to RPI. No breaks. Deposit held of £6,250. Tenant benefits from 5 months rent free period from lease start date. The vendor will top-up rent until 1st February 2027, so the buyer receives the equivalent to £25,000 p.a. from sale completion.
Location:
Cheltenham is an historic and attractive spa town located in the heart of the Cotswolds, located approximately 8 miles north-east of Gloucester, 21 miles south of Worcester and 38 miles north-west of Oxford. The M5 Motorway lies to the west of the town (accessed via Js 10 & 11) and the A40 provides links to Oxford and the M40. Cheltenham Spa Rail Station provides regular services to Bristol Temple Meads, Birmingham New Street, Cardiff and London Paddington. The property benefits from strong public transport links, with several bus services operating along the High Street and frequent rail services from Cheltenham Spa providing regional and national connectivity. Occupiers nearby include Iceland, Betfred, Subway, Restaurants, Hair Salon and many more.