Pearson Professional Centre
The Coliseum, 18-20 Albion Street
Cheltenham
Gloucestershire
GL52 2LP

Driving Test Theory Centre/Educational Investment

  • Let to Pearson Professional Assessments Limited (t/a Cheltenham Theory Test Centre)
  • 10 year lease renewal March 2020 (no breaks)
  • Tenant in occupation since 2015
  • Popular and attractive Regency Spa Town
  • Lot
    31
  • Auction
    16/Jun/2021
  • Rent
    £21,500 per Annum Exclusive
  • Status
    Available
  • Price*
    £270,000 - £290,000
  • Sector
    Office
  • Auction Venue
    Live Streamed Auction
  • Pearson Professional Centre<br>The Coliseum, 18-20 Albion Street<br>Cheltenham<br>Gloucestershire<br>GL52 2LP
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
9 miles north-east of Gloucester
27 miles south of Worcester
Roads
A40, M5 (J11)
Rail
Cheltenham
Air
Gloucester Airport
Situation

Cheltenham is a large and historic Spa Town on the edge of the Cotswolds approximately 9 miles north-east of Gloucester and 27 miles south of Worcester. The property is situated in a prominent position on the north side of Albion Street, at its junction with Albion Place, and close to Portland Street just to the north of High Street and a short walk to Cheltenham's main shopping facilities. Nearby occupiers include Turtle Bay, Subway, KFC, Papa John's and a number of independent shops.

Tenure

Long Leasehold. for a term of 999 years from completion at a peppercorn.

Description

The property comprises a ground floor test centre/office with two entrances onto Albion Street. The property, which was built in 2012 is used as a theory test centre for car, motorcycle and HGV/LGV candidates. The property forms part of a larger building which is not included in the sale.

VAT

VAT is applicable to this lot.

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
GroundOffice
133.41 sq m
(1,436 sq ft)
PEARSON
PROFESSIONAL
ASSESSMENTS
LIMITED (1)
10 years from
11/03/2020 until
10/03/2030 on an
effectively full
repairing and insuring
lease
£21,50011/03/2025 (2)
Total
133.41 sq m
(1,436 sq ft)
  £21,500 

(1) For the year ending 31/12/2019, Pearson Professional Assessments Limited reported a turnover of £63,655,000, pre-tax profits of £8,083,000 and a total net worth of £11,882,000 (NorthRow 06/05/2021). Pearson is a well established education provider, with more than 20,000 employees that deliver products and services in nearly 200 countries (www.pearson.com).
(2) Rent reviewed to the higher of open market or RPI.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.06.21
    File Size
    17 MB
    Login to View
  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    572 KB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    825 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
360 Law Services 377-399 London Rd
Camberley
GU15 3HL
Ben Hammond 0333 772 7736auctions@360lawservices.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now