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Lot 9 Click here for addendum

Freehold Commercial Investment – Gross Yield 12.7%
6 Week Completion

Situation

Close to the junction with Cambray Place in the town's main pedestrianised retail thoroughfare, directly opposite The Works, diagonally opposite New Look and close to other multiples such as John Lewis, Millets, Subway, Superdrug, Costa, The Entertainer and many others.
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 mid terrace property comprising a Ground Floor Shop and Basement with external access at the rear to Ancillary Accommodation on the first and second rear floors.

VAT is NOT applicable to this Lot

FREEHOLD

Accommodation

Ground Floor Shop
Gross Frontage 13'8”
Internal Width 12'11”
Shop & Built Depth 25'8”
First Floor Ancillary
2 Rooms Area Approx 220 sq ft
Second Floor Ancillary
2 Rooms Area Approx 218 sq ft
WC
Basement
Storage Area Approx 230 sq ft

Tenancy

The entire property is let on a full repairing and insuring lease to M. Khan and N. Khan t/a United News (Newsagent/Vape Shop) for a term of 15 years from 24th September 2012 at a current rent of £35,000 per annum exclusive.

Rent Review 2024

*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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

108 High Street, Cheltenham, Gloucestershire GL50 1EG