Skip to Content

Lot 1
82 London Road, Cheltenham, Gloucestershire GL52 6EH

  • Photo1
  • Photo2

6 Week completion

SITUATION

Located on the main A40 London Road at the corner of Keynsham Street within a local parade of shops including a Premier Express and serving the surrounding sought after residential area only ¼ mile from the town centre.
Cheltenham is an attractive Spa Town approximately 8 miles east of Gloucester and 42 miles north of Bristol, only 4 miles east of the M5 (J11) which links with the M4 to the South and the M42 to the North.

PROPERTY

A corner property comprising a Ground Floor Betting Shop and Basement with a First Floor above which currently has no access.

ACCOMMODATION

Ground Floor Shop
Gross Frontage 12'6"
Return Window Frontage 10'4"
Internal Width 11'7"
Shop & Built Depth 38'10"
WC
Basement - Not inspected
First Floor - Not inspected

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Coral Racing Limited (see Tenant Profile) a term of 10 years from 29th September 2009 at a current rent of £7,500 per annum exclusive.

TENANT PROFILE

Ladbrokes and Coral merged in 2016 to create Ladbrokes Coral Group plc, the largest bookmakers in the UK with some 3,500 stores (www.coral.co.uk).
For Y/E 31/12/16, Coral Racing Limited reported a T/O of £867.4m, Pre-Tax Profit of £91.2m and Shareholders' Funds of £215.8m.

Note 1: There may be potential to reinstate an access to the first floor and convert it to residential, subject to planning and possession.

Note 2: The lessee also occupies the adjoining property (No. 84) which is not included in the sale.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £750 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.