Outstanding Period Building

Exis�ng Office Use Plus Recording Studio

(With Residen�al Poten�al)

FOR SALE FREEHOLD

121 The Promenade, Cheltenham, GL50 1NW

LOCATION

The Regency Spa town of Cheltenham lies at the foot

of the Cotswold Hills and within 3 miles of the M5

motorway junc�on 11.

Birmingham - 43 miles, Bristol - 39 miles.

Rail network links to London Paddington - 2h 5mins

The Town is famed for its Racecourse and the Gold

Cup and hosts Interna�onal Literature, Jazz, Music

and Science Fes�vals

121 Promenade sits on the western side of the

Promenade fron�ng one of the most renowned

thoroughfares in the UK and overlooking Imperial

Gardens and close to The Queens Hotel and The

Cheltenham Ladies College.

DESCRIPTION

The premises comprise a Regency period Grade II*

Listed Building.

Significantly refurbished over the past few years to

provide outstanding high class office accommoda�on

and featuring

• Fully Soundproofed Recording Studio (equipment

not included) with interna�onal ISDN facility

• On-site parking for approximately 8 cars.

• Gas fired central hea�ng.

The retained period features include internal acanthus

cornice and anthemion ceiling frieze to the ground

floor front room together with many fireplaces.

HISTORY AND PLANNING

121 Promenade was sold by auc�on in the late 1970’s

and was adver�sed as the last house in the

Promenade with all other proper�es having gone over

to commercial use.

Currently used as offices, the building has been

sympathe�cally restored and maintained to a high

standard by the current owner and includes in the

lower ground floor a fully fiCed out recording studio

where Dionne Warwick has recorded as has Martha

Reeves and the Vandellas.

The current use is as offices' but residen�al or

alterna�ve leisure uses are well suited, subject to

appropriate planning consent. An applica�on has

been submiCed by the owner for residen�al use.

121 Promenade

www.johnryde.co.uk

PROPERTY HIGHLIGHTS

• Outstanding loca�on overlooking Imperial Gardens

in Regency Town Centre.

• Currently occupied as Offices producing rental

income of £47,480 per annum plus owners

accommoda�on.

• Prospect of alterna�ve uses including leisure and

residen�al, subject to planning.

• Lower ground floor fiCed out as professional

recording studio including high level soundproofing.

121 Promenade

www.johnryde.co.uk

ACCOMMODATION

The accommoda�on is laid out over four floors as follows:

Ground Floor

Entrance Lobby

Entrance Hall

Three Rooms providing 932 Sq Ft (86.57 Sq M)

Shower room with WC and wash basin

Lower Ground Floor

Inner Hallway

Three Recording Studios Kitchen—Total area -953 Sq Ft (88.53 Sq M)

Ladies and Gents WCs

First Floor

Three Offices plus Kitchen—Total 900 Sq Ft (83.61 Sq M)

WC with wash basin

Second Floor

Five Offices plus Teapoint –Total - 944 Sq Ft (87.69 Sq M)

Ladies and Gents WCs

Floor Areas

Net Internal basis 3,729 Sq Ft (346.42 Sq M)

Gross Internal basis 5,220 Sq Ft (485.00 Sq M)

Outside

There is private parking at the front and side of the premises for 8 or 9 cars

TENANCY INFORMATION

Ground Floor Front Office

Let to Cotswold Transport Planning Limited for a lease expiring on 30th April 2018.

The rent payable is £9,000 per annum and there is a mutual break clause, subject to

6 months prior wriCen no�ce.

Remainder of Ground Floor

Occupied by the owner. If the purchaser requires the premises to remain let, the

owner will agree a rental income to be paid for this space.

Lower Ground Floor

Recording studios occupied by Yellow Shark..-..a business of the current owner. No

lease in place. If required, the vendor will agree terms for a lease of these premises

for a period to be agreed from comple�on.

First Floor

Let to Antares Underwri�ng Services Limited for a term expiring on 12th November

2019 at a rent of £25,000 per annum. There is a mutual right to break the lease

any�me aOer 12th May 2018.

Second Floor

Let to Warner MaChews Limited for a term expiring on 30th April 2019 at a rent of

£13,480 per annum. There is a mutual right to terminate the lease on 6 months

wriCen no�ce.

The exis�ng leases include provision for payment of u�lity bills by the Landlord and

recovery from the tenants in due propor�on.

Vacant Possession

If required vacant possession of the property can be supplied upon comple�on of

the sale.

SERVICES

Mains electricity, gas, water and drainage are

connected. Gas fired central hea�ng is installed.

RATES

The property current has the following assessments:

Lower Ground Floor £ 3,600

Ground Floor LeOhand side £ 7,500

Ground Floor Righthand side £ 6,600

First Floor £11,750

Second Floor Suite A £ 3,050

Second Floor Suite B £ 5,900

VAT

The property is not currently elected for VAT.

PRICE

Offers over £1,650,000 are invited for the freehold

interest of the property. Vacant possession can be

provided or proposals can be made for the exis�ng

tenants (and vendor) to remain in occupa�on.

EPC

Exemp�on due to Listed Building status.

Site Plan

Loca�on and Site Plans Reproduced under Licence Number: 100022432

Crown Copyright Reserved

IMPORTANT NOTICES

SERVICES, FIXTURES, EQUIPMENT, BUILDINGS & LAND – None of these have been tested by John Ryde Commercial. Any interested party will need to satisfy themselves as to type, condition and suitability for purpose.

BUSINESS RATES - Standard Uniform Business Rate Multiplier 2017/2018 47.9 pence in the pound. Small Business Multiplier 46.6 pence in the pound (applicable to rateable values under £15,000). Total exemption for qualifying parties for properties with

rateable values under £12,000. Information obtained from www.gov.uk and rateable values from www.voa.gov.uk. To be verified by the new occupier. Transitional arrangements, eligibility for the Small Business Rate Relief scheme, or appeals against

rateable value may affect the bill payable. For further information search ‘business rates’ at www.gov.uk.

MISREPRESENTATION ACT - These particulars are prepared with care, but are not guaranteed and do not constitute, or constitute part of, an offer or contract. Intending purchasers must satisfy themselves of these particulars’ accuracy by inspection or

otherwise, since neither our client nor John Ryde Commercial shall be responsible for statements or representations made. Our client does not make or give and neither John Ryde Commercial nor any person in their employment has any authority to make

or give any representation or warranty in relation to this property.

121 Promenade VIEWING

For further informa�on or to arrange a viewing

please contact the agents: -

John Ryde Commercial

14 Royal Crescent

Cheltenham

GL50 3DA

Tel: 01242 576276

Email: enquiries@johnryde.co.uk

�msmith@johnryde.co.uk