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High Street, Cheltenham

  • £275,000
High Street, Cheltenham, GL50 3JF
  • Terraced House
  • Property Type
  • 4
  • Bedrooms
  • 2
  • Bathrooms
For Sale

High Street, Cheltenham

High Street, Cheltenham, GL50 3JF
  • £275,000

Description

Property Description:

Location: High Street and New Street

This attractive mixed-use property is ideally situated on High Street, combining commercial and residential spaces within a single building.

Commercial Space:
The ground floor comprises a spacious, open-plan area currently utilised as a barbershop. This versatile space is suitable for various retail or service businesses, benefiting from ample natural light and excellent accessibility. At the rear, the property features convenient storage rooms and a well-appointed WC, ensuring functionality for both staff and customers. Importantly, plans are in place to install a new staircase within the commercial unit, enhancing access to the upper residential apartment.

Residential Accommodation:
The first and second floors contain a self-contained apartment, presently accessed via the rear of the building. Following the planned renovations, access to the rear will be removed, and a new staircase will provide internal access from the commercial unit. The apartment is set to be converted into a 4-way House in Multiple Occupation (HMO), with a projected income of £500 per room, plus bills. The accommodation will include:

A well-equipped kitchen
An inner hallway providing access to various rooms
A versatile study/store room, ideal for use as a home office
A comfortable living area offering a welcoming atmosphere
The first/second floor will feature four bedrooms, with a family bathroom designed for convenience.

This property presents an excellent opportunity for investors or business owners seeking a prime location with residential accommodations. It embodies a perfect blend of commercial viability and residential comfort in one desirable setting, with strong rental income potential following the HMO conversion.

Current Income:

Commercial lease – £6,000 on a six year lease ending in 2028

Residential – Potential £24,000 per year

Rental Yield Potential – 10.91%

FREEHOLD

  • Address High Street
  • City Cheltenham
  • Postcode GL50 3JF

Details

Updated on February 5, 2025 at 6:43 pm
  • Property ID: HZ1058367
  • Price: £275,000
  • Bedrooms: 4
  • Rooms: 2
  • Bathrooms: 2
  • Property Type: Terraced House
  • Property Status: For Sale

Floor Plans

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