Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment occupying a prime pitch in Central Cheltenham and let to Burger King.
Arranged across ground, first and second floors. The property is let to BKUK Devco Limited (t/a Burger King) on a 20 year lease expiring 25.10.2038 and paying £80,000 per annum.
The adjacent Unit 3 is sold off on a long leasehold basis. The leasehold interest is available in the same auction and can be found here.
The property occupies a prime pitch fronting the partially pedestrianised High Street, the street comprises the principal retail amenity for Cheltenham and therefore benefits from high footfall and low vacancy. The area is characterised by other national retailers including Superdry, McDonalds, Primark, Caffe Nero and Marks & Spencer.
Tenure
Freehold
Tenancy
The property is let to BKUK Devco Limited (t/a Burger King) on a 20 year lease expiring 25.10.2038 and paying £80,000 per annum.
The lease is on full repairing and insuring terms and includes rent reviews and tenants break options in years 10 & 15.
Unit 3 is sold off on a long leasehold basis. The leasehold interest is available in the same auction and can be found here.
BKUK Devco Limited (t/a Burger King)
Source: ICANS
Planning
Whilst there are no extant planning consents, the property includes extensive upper parts. Whilst these are currently let to the existing tenant, there may be an opportunity to obtain vacant possession and convert to alternative uses, including residential (subject to the existing leases and any requisite consents).
Rent
Notes
Please note Savills have not inspected the property. Any plans, drawings and photographs are for indicative purposes only and are not to be relied upon. Please consult the Legal Pack.