- Income of £28,920 PA
- Residential and Commercial Use
- Newly refurbished
- Opportunity for rental growth
Location and Description
Tetbury is an attractive and popular market town with an affluent local catchment area. It draws visitors from throughout the UK and overseas because of its many antique shops and royal connections. The town enjoys good communication links via the A4135, A434 and A433 giving access to the nearby towns of Cirencester, Malmesbury, Nailsworth, Stroud and Dursley as well as Junctions 17 or 18 of the M4 motorway and the larger conurbations of Bath, Bristol and Swindon. Cheltenham and Gloucester can be easily reached to the north.
Grosvenor House is a substantial period property located in the Market Place close to a zebra crossing and a large element of free on-street car parking. The town's main car parks are also close by along with other occupiers such as the Post Office and a variety of boutique retailers.
Grosvenor House has recently been converted and comprehensively refurbished to form three residential units across ground, first and second floors together with a self-contained retail unit to the front of the ground floor and at basement level. The retail unit benefits from separate access to the front of the property with the three residential apartments being accessed to the side, off the main internal staircase. The ground floor apartment benefits from a small courtyard garden to the rear.
The property has been measured in accordance with International Property Measuring Standards (IPMS) 2 - Residential* and offer the following levels of accommodation:
Area (IPMS 2- Retail
Basement (Retail) 97 Sq. ft
Ground Floor (Retail) 93 Sq. ft
Ground Floor (Apartment 1) 290Sq. ft
First Floor (Apartment 2) 542 Sq. ft
Second Floor (Apartment 3) 650 Sq. ft
TOTAL 1672 Sq. ft
* All measurements approximate.
Tenure and Rental
The property is available on a Freehold basis subject to the prevailing occupational tenancies which are briefly set out below:
Retail: 4 year Internal Repairing and Insuring lease from 03/07/19 at a passing rent of £6,000 per annum subject to an upwards only rent review 03/07/21 underpinned by an RPI increase. All apartments are let to single occupiers under Assured Shorthold Tenancies:
Apartment 1 - £565pcm
Apartment 2 - £695pcm
Apartment 3 - £650pcm
Further information regarding the abovementioned tenancies is available from the agent upon request.
Each party will be responsible for their own costs incurred in any proposed transaction.
Finance Act 1989
Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (V.A.T). Any intending purchasers or lessees should satisfy themselves independently as to VAT in respect of any transaction. We understand that the property is not elected for VAT and therefore VAT will not be payable on any transaction.
Energy Performance Certificate
The property is listed and is therefore exempt.
The retail unit benefits from mains electricity and water. All of the residential units are served by mains electric and water and benefit from a modern electric boiler. Hunter French Commercial have not tested any of the services supplied and recommend that interested parties satisfy
themselves that they meet their requirements and current regulations.
We have been advised that the property has an existing use Class 'E' (commercial) and C3 (residential dwelling). We recommend interested parties direct any planning queries to the local planning department of Cotswold District Council.
Strictly by appointment through the Sole Agents, Hunter French Commercial.