Acquired
Cheltenham – Coral Betting Shop
84 London Road, Cheltenham, Gloucestershire GL52 6EHFreehold Terrace Shop and First Floor Upper Part Let
Lease Term
15 Years
Years Left on Lease
Holding Over
Area
272 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Entire property is let on a full repairing and insuring lease to Arthur Prince (Turf Accountants) Ltd with a guarantee from Coral Racing Ltd
- Lease expires 2026, no breaks
- Rent Review 2021 to the greater of OMV or 2.5% p.a. compounded. Therefore the minimum rent in 2021 will be £6,400 p.a.
- Located at the corner of Keynsham Street within a local parade of shops serving the surrounding sought after residential area only ¼ mile from the town centre.
VAT
VAT is not applicable.
Property Description
A two storey terraced property comprising a Ground Floor Betting Shop with a First Floor above having no access.
The property provides the following accommodation and dimensions:
Ground Floor Shop
Gross Frontage 16’9”
Internal Width 15’2”
Shop Depth 12’3”
Built Depth 17’9”
2 WC’s
First Floor Not Inspected – no access
The property provides the following accommodation and dimensions:
Ground Floor Shop
Gross Frontage 16’9”
Internal Width 15’2”
Shop Depth 12’3”
Built Depth 17’9”
2 WC’s
First Floor Not Inspected – no access
Tenancy Description
The entire property is let on a full repairing and insuring lease to Arthur Prince (Turf Accountants) Ltd with a guarantee from Coral Racing Ltd (having approx. 1,600 branches) for a term of 15 years from 24th August 2011 at a current rent of £5,657 per annum exclusive.
Tenancies & Accommodation
Location Description
Located on the main A40 London Road at the corner of Keynsham Street within a local parade of shops serving the surrounding sought after residential area only ¼ mile from the town centre. Cheltenham is an attractive Spa Town approximately 8 miles east of Gloucester and 42 miles north of Bristol, only 4 miles east of the M5 (J11) which links with the M4 to the South and the M42 to the North.
