An attractive Grade II* listed investment has been sold in Cheltenham’s fashionable Montpellier area for £875,000 by a private investor.
The freehold interest comprises two ground floor shop units, one let to linen retailer Cologne & Cotton, and the second unit, which is a prominent corner unit, trades as a wine bar let to independent wine & spirit merchant, Jon Gordons (Cheltenham) Ltd. On the upper two floors, there are two self-contained office suites.
The block on Montpellier Arcade is prominently located overlooking Montpellier Gardens and nearby occupiers include The Ivy Brasserie, Brasserie Blanc, Mandarin Stone, Wesley Barrel and Fired Earth.
The investment currently generates an annual income of £59,500 per annum.
The sale at a price of £875,000 reflects a net initial yield of 6.44%.
Hartnell Taylor Cook represented the vendor, a private investor and the purchaser, Helmsley Securities Ltd syndicate were unrepresented.