Winchcombe House 5-39 Winchcombe Street Cheltenham Gloucestershire GL52 2NA

  • Winchcombe House<br>5-39 Winchcombe Street<br>Cheltenham<br>Gloucestershire<br>GL52 2NA

Winchcombe House
5-39 Winchcombe Street
Cheltenham
Gloucestershire
GL52 2NA

Substantial Freehold Retail Parade and Office Investment

  • Extensive 11 unit Town Centre retail parade with office upper floors
  • Change of use potential of the existing site (subject to planning consents)
  • Positive Pre-app received on potential hotel development
  • Total floor area of approx. 2,260.90 sq. m. (24,312 sq. ft.)
  • Popular trading location in central Cheltenham
  • Immediate asset management opportunities
  • Neighbours John Lewis with other nearby occupiers including H&M, Next, River Island, Pret a Manger and M&S
  • Lot
    11
  • Auction
    9th May 2024
  • Rent
    £187,500 per Annum
  • Status
    Sold
  • Price
    £1,700,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund
  • Expand
  • Photos
  • Map

Substantial Freehold Retail Parade and Office Investment

  • Extensive 11 unit Town Centre retail parade with office upper floors
  • Change of use potential of the existing site (subject to planning consents)
  • Positive Pre-app received on potential hotel development
  • Total floor area of approx. 2,260.90 sq. m. (24,312 sq. ft.)
  • Popular trading location in central Cheltenham
  • Immediate asset management opportunities
  • Neighbours John Lewis with other nearby occupiers including H&M, Next, River Island, Pret a Manger and M&S
  • Lot 11
  • Auction 9th May 2024
  • Rent £187,500 per Annum
  • Status Sold
  • Price £1,700,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund

Property Information

Location
Miles
8 miles north-east of Gloucester
Roads
M5, A40, A4019
Rail
Cheltenham Spa Railway Station
Air
Bristol Airport, Birmingham Airport
Situation

Cheltenham is a large and historic Spa Town on the edge of the Cotswolds approximately 8 miles (13 km) north east of Gloucester and 35 miles (56 km) north east of Bristol. The property is well located in the heart of Cheltenham's busy and attractive centre. The property is situated on Winchcombe Street, in between the busy High Street and Albion Street with 3 major car parks within 100 metres. The property neighbours John Lewis with other nearby occupiers including H&M, Next, River Island, Pret a Manger and M&S.

Tenure

Freehold.

Location
Miles
8 miles north-east of Gloucester
Roads
M5, A40, A4019
Rail
Cheltenham Spa Railway Station
Air
Bristol Airport, Birmingham Airport
Situation

Cheltenham is a large and historic Spa Town on the edge of the Cotswolds approximately 8 miles (13 km) north east of Gloucester and 35 miles (56 km) north east of Bristol. The property is well located in the heart of Cheltenham's busy and attractive centre. The property is situated on Winchcombe Street, in between the busy High Street and Albion Street with 3 major car parks within 100 metres. The property neighbours John Lewis with other nearby occupiers including H&M, Next, River Island, Pret a Manger and M&S.

Tenure

Freehold.

Description

The property comprises a substantial retail and office parade, currently arranged to provide 11 ground floor retail units with ancillary accommodation on the first floor, together with 6 office suites on the second floor upon a site area of 0.17 Ha (0.41 Acres). Additionally, there are 10 car parking spaces to the rear.

The whole existing site may be suitable for change of use subject to obtaining the necessary consents. The vendor has received a positive pre-app on a potential hotel development from Cheltenham City Council, full information is available in the legal pack.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a substantial retail and office parade, currently arranged to provide 11 ground floor retail units with ancillary accommodation on the first floor, together with 6 office suites on the second floor upon a site area of 0.17 Ha (0.41 Acres). Additionally, there are 10 car parking spaces to the rear.

The whole existing site may be suitable for change of use subject to obtaining the necessary consents. The vendor has received a positive pre-app on a potential hotel development from Cheltenham City Council, full information is available in the legal pack.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Lease Start Lease Expiry Rent p.a.
5-7 Winchcombe House Ground
First
Retail
Retail/Ancillary
95.90
67.40
(1,032)
(725)
STAR & FOOD CO LTD
t/a Revival
23/04/2013 22/04/2028
(1)
£31,500
9 Winchcombe House Ground
First
Retail
Ancillary
46.91
42.91
(504)
(461)
INDIVIDUAL
t/a Golden Stitches
09/04/2021 08/04/2024
(4)
£15,000
11-19 Winchcombe House Ground
First
Retail
Ancillary
207.08
182.80
(2,228
(1,967)
LADBROKES BETTING & GAMING LIMITED 11/05/2011 10/05/2024 (6)
£75,000
21 Winchcombe House Ground
First
Retail
Ancillary
29.90
27.10
(321)
(291)
INDIVIDUAL
t/a Emy Nails
14/04/2021 13/04/2026
(3)
£17,000
23 Winchcombe House Ground
First
Retail
Ancillary
31.10
27.91
(334)
(300)
INDIVIDUAL
t/a Mobitech
03/06/2021 02/06/2026
(3)
£13,000
25 Winchcombe House Ground
First
Retail
Ancillary
44.20
44.80
(475)
(482)
VACANT POSSESSION      
27 Winchcombe House Ground
First
Retail
Ancillary
50.00
44.90
(528)
(483)
VACANT POSSESSION      
29 Winchcombe House Ground
First
Retail
Ancillary
56.30
48.70
(606)
(524)
TANIQUE (CHELTENHAM) LIMITED
t/a Tanique
05/09/2023 04/09/2026
(3)
£16,000
31 Winchcombe House Ground
First
Retail
Ancillary
48.20
45.30
(518)
(487)
VACANT POSSESSION      
33/35 Winchcombe House Ground
First
Retail
Ancillary
107.89
112.55
(1,161)
(1,211)
VACANT POSSESSION      
37/39 Winchcombe House Ground
First
Retail
Ancillary
80.30
35.90
(864)
(386)
INDIVIDUALS
t/a Cry Now Cry Later
13/12/2022 12/12/2025
(2)
£20,000
Suite 1 Second Office
425.50
(4,580)
VACANT POSSESSION      
Suite 2 Second Office
70.00
(753)
VACANT POSSESSION      
Suite 3 Second Office
71.60
(770)
VACANT POSSESSION      
Suite 4 Second Office
32.92
(354)
VACANT POSSESSION      
Suite 4A Second Office
62.35
(671)
VACANT POSSESSION      
Suite 5 Second Office
120.48
(1,296)
VACANT POSSESSION      
Parking Space 12         STAR & FOOD CO LTD 05/01/2016 22/04/2028
Peppercorn
Parking Space 13         INDIVIDUAL 15/09/1995 -
Peppercorn
Parking Space 1-3, 6&8, 15-17         VACANT POSSESSION      
Total    
2,260.90
(24,312)
(5)
     
£187,500

(1) 5 Winchcombe House and 7 Winchcombe House are let to Star & Food Co. Ltd. on two separate leases, 5 Winchcombe House is let for a term of 15 years from 23/04/2013 until 22/04/2028 at a current rent of £16,500 per annum exclusive, 7 Winchcombe House is let for a term of years from 05/01/2016 until 22/04/2028 at a current rent of £15,000 per annum exclusive.
(2) The lease provides for a rolling option to determine the lease upon serving 3 months written notice.
(3) The lease provides for a rolling option to determine the lease upon serving 6 months written notice.
(4) The tenant is now occupying under a Tenancy at Will while negotiations for a renewal lease are ongoing. We understand terms have been agreed for a new three year lease (to be contracted out of the LTA 1954) at an annual rent of £15,000 plus VAT. The lease will contain a mutual break clause which may be exercised by either party on one months’ written notice at any time after 8 April 2025
(5) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
(6) Renewal proceedings are ongoing with Ladbrokes Betting & Gaming Limited.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    30.04.24
    File Size
    154 MB
    Login to View
  • Brochure
    Updated Date
    17.05.24
    File Size
    3 MB
    View PDF
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Jon SkerryJon Skerry +44 (0)20 7034 4863 +44 (0)7736 300 594jon.skerry@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
BCLP Law Grosvenor's House, 5 Laurence Pountney Hill
London
EC4R 0BR
William Rowell +44(0) 20 3400 3059william.rowell@bclplaw.com  Madeline Thompson +44 20 3400 3597madeline.thompson@bclplaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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