Under Offer

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