Lot 1 details
6 Week completion
Located on the main A40 London Road at the corner of Keynsham Street within a local parade of shops including a Premier Express and 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.
A corner property comprising a Ground Floor Betting Shop and Basement with a First Floor above which currently has no access.
Ground Floor Shop
Gross Frontage 12'6"
Return Window Frontage 10'4"
Internal Width 11'7"
Shop & Built Depth 38'10"
Basement - Not inspected
First Floor - Not inspected
VAT is NOT applicable to this Lot
The entire property is let on a full repairing and insuring lease to Coral Racing Limited (see Tenant Profile) a term of 10 years from 29th September 2009 at a current rent of £7,500 per annum exclusive.
Ladbrokes and Coral merged in 2016 to create Ladbrokes Coral Group plc, the largest bookmakers in the UK with some 3,500 stores (www.coral.co.uk).
For Y/E 31/12/16, Coral Racing Limited reported a T/O of £867.4m, Pre-Tax Profit of £91.2m and Shareholders' Funds of £215.8m.
Note 1: There may be potential to reinstate an access to the first floor and convert it to residential, subject to planning and possession.
Note 2: The lessee also occupies the adjoining property (No. 84) which is not included in the sale.