£900,000
(£149.95/sq. ft)
Retail premises for sale60-66 Fairview Road, Cheltenham GL52
6,002 sq. ft
About this property
Producing a rental income of £65,000 pa for a period of 10 years from 21 January 2025.
Offers in the region of £900,000 which reflects a net initial yield of 7.80% after purchasers' costs at 6.86% or gross yield of 7.22%
Let on a 10-year full repairing and insuring lease, subject to a Schedule of Condition, from 21 January 2025 to 20 January 2035 at a passing rent of £65,000 per annum.
The lease incorporates a rent review and tenant break clause on the fifth anniversary.
Total property size: 557.67 m2 (6,002 ft2).
The property is of two storey part rendered masonry construction with a single storey side loading bay extension.
The property predominantly has a flat roofs with profiled steel over-cladding with the loading bay extension having lightweight steel trussing supporting the profiled steel-clad roof. The property has solid concrete flooring and single glazed timber framed windows on the upper floors and a single glazed timber framed display window on the ground floor.
The building is divided to provide open plan sales area together with a sales counter and store with office, together with a loading bay storage area within the single storey extension. Two staircases lead from the ground floor sales area and offices to the first floor which is divided by partitioning to provide six offices/stores/staff rest rooms, together with small hallway, kitchen and two toilets.
The ground floor sales and storage have vinyl plastic tiled floor covering with emulsion walls and ceiling together with suspended fluorescent lighting, wall mounted electricity and telephone points and heating provided by a Powermatic gas fired space heater and wall mounted electric storage heaters.
Location
The property is situated on the northern side of Fairview Road (A46), opposite its junction with Sherborne Place, approximately 200 metres east from its junction with Winchcombe Street, approximately 1⁄4 of a mile north from town’s main shopping areas of the High Street and Promenade.
Properties in the immediate vicinity comprise a mixture of residential and commercial units including Holy Trinity Church of England Primary School, which is located to the rear (north), whilst opposite the property are Bences Builders Merchants and Obsidian Kitchen and Bathroom Sales showrooms.
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