Old Courthouse, County Court Building

share

bookmark

Key Points

Summary

Savills is delighted to bring to the market the leasehold interest in The Old Courthouse, situated in the centre of Cheltenham.

Description

The property comprises a two storey semi-detached building of stone elevations beneath a flat roof.

The premises benefits from a pavement licence fronting the Regent Street for 8 tables and 16 customers.

Location

The Old Courthouse is located in Cheltenham, an affluent spa town on the edge of the Cotswolds in Gloucestershire. Cheltenham has a population of 115,300 and benefited from 1.9 million day visitors and spending of over £162 million in 2018.

The property fronts onto Regent Street / County Court Road, a busy thoroughfare in the heart of Cheltenham. The nearby 215,000 sq ft Regent Arcade Shopping Centre offers over 60 stores including Ernest Jones, Pandora, Timpson, The Body Shop and Holland & Barrett. Nearby occupiers include include Bill’s, Wagamama, Pret a Manger and Greene King.

Cheltenham Spa train station is located 1.5 miles to the west and offers regular national rail services to London Paddington in 2 hours, Nottingham in 2 hours 4 minutes and Taunton in 1 hour 25 minutes.

Rateable Value

2017: £80,000
2023: £99,500

Planning

The property is Grade II Listed and located within Cheltenham Central Conservation Area.

Premises Licence

The property has the benefit of a Premises Licence in accordance with the Licensing Act 2003. We understand that the premises are permitted to sell alcohol at the following times:

• Monday to Sunday 08:00 – 00:00

Fixtures & Fittings

The property is fully fitted and the fixtures and fittings can be included by way of separate negotiation.

Tenure

Offers are invited for the benefit of our clients existing lease of the entire property, the current headline terms of which are highlighted below:

• Rent - £120,000 per annum
• Lease expiry – 25th April 2036
• Rent reviews – five yearly to open market value
• Use – restaurant use with ancillary bar

Money Laundering

Money Laundering Regulations require Savills to conduct checks upon all Purchasers (including Agents). Prospective tenants will need to provide proof of identity and residence.

Viewing

Interested parties are asked to undertake discreet customer visits in the first instance. No formal viewings will be permitted unless arranged through the sole selling agents Savills. Under no circumstances should any direct approach be made to any of our clients staff.