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Cheltenham – Prime Retail Unit Let on a Long Lease with Excellent Long Term Development Potential
Pret, 163/165 High Street, Cheltenham, GL50 1DF
Offers in excess of £3,130,000
- Property Types:
- Commercial, Development Opportunity
- Sub Type:
- Retail
- Tenure:
- Freehold
- Net Initial Yield:
- 6.00%
Description
- Cheltenham is an attractive Regency Spa town with a large and affluent catchment
- Situated in a prime position on the pedestrianised High Street, diagonally opposite the entrance to the Regent Arcade Shopping Centre
- Let to the strong covenant of Pret A Manger (Europe) Ltd
- Unexpired lease term of over 10 years expiring 1st May 2032
- The next rent review is 2nd May 2022
- The property is arranged over ground, first and second floors totalling approximately 6,186 sq ft
- Passing rent of £200,000 pa
- Freehold
- Long term potential to redevelop the upper parts and add additional floors subject to necessary consents