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Commercial property for sale

24 Promenade, Cheltenham GL50 1LR

Guide Price
£520,000

Business rates & charges may apply

BTG Eddisons Property Auctions (SDL Auctions), Nationwide
SIZE

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SECTOR

Commercial property for sale

Key features

  • Prominent corner building
  • Located on one of the prime retail streets
  • Robust Covenant

Description

For sale by Auction on 26 March 2026.

A freehold investment opportunity located along The Promenade, Cheltenham, offered with current income of £57,750pa held on a 10 year FRI lease. Upper floors sold off.

LEASE TERMS & RENT
The current income from the building is £57,750 per annum exclusive, with future fixed uplifts.

The ground floor and basement are let to Knoops TPC Ltd on a 10-year lease from 27 August 2025. The current rent is £57,500 per annum exclusive, rising to £60,000 per annum exclusive in August 2030.

The lease includes a tenant break option at the end of the fifth year and is part guaranteed by Knoops Holdings Ltd.

The residential upper parts have been sold off on a 125-year ground lease from October 2008. The current ground rent is £250 per annum, increasing by £100 per annum every 25 years.

The upper parts contribute 50% of the service charge.

COVENANT STATUS
Knoops are a rapidly expanding retail chain trading from around 27 stores with 3 more including the subject property set to open shortly. They offer “fine chocolate” to the high street and home with gourmet chocolate drinks, chocolates and ingredients.

Cheltenham is a renowned spa town on the edge of the Cotswolds in Gloucestershire and claims to be the most complete regency town in England. The town is located off the M5 at it’s junctions with the A40 and the A4019 and has a resident population of around 118,800 (Census 2021). The property is located on “The Promenade” which has long been regarded as one of the prime retail streets. The property occupies a prominent corner position close to the junction of The Promenade with High Street.

Tenure: Freehold

EPC Rating: B

Terms:
Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 2% of the purchase price inc. VAT

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms. 

24 Promenade, Cheltenham GL50 1LR

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Cheltenham Spa Station1.1 miles

About BTG Eddisons Property Auctions (SDL Auctions), Nationwide

17 Regan Way, Toton, Nottingham, NG9 6RZ

We are BTG Eddisons Property Auctions

Blending the property auction prowess of Pugh, Mark Jenkinson and SDL, we bring together two centuries of expertise to deliver a five-star service to thousands of people like you, every single year.

From residential homes to commercial premises and land, our property auctions deliver speed, simplicity and certainty to thousands of buyers and sellers across the UK.

Drawing together two centuries of expertise, we deliver a five-star service. With a process that’s proven to work wonders for any person and every property.

What We Do

Building on our strong property auction heritage, BTG Eddisons Property Auctions provides a comprehensive and flexible auction service designed to meet the needs of today’s property market. We sell a wide range of property types including residential homes, commercial premises, mixed-use buildings, development opportunities and land, working with private sellers, investors, corporate clients, local authorities and professional advisors.

Our property auctions are structured to deliver speed and certainty, with clear timelines and transparent terms that give both buyers and sellers confidence from start to finish. By combining traditional auction principles with modern online technology, we make property auctions more accessible while maintaining the integrity and professionalism our clients expect.

Expert Support at Every Stage

From the initial conversation through to completion, our experienced auction team provides hands-on guidance and practical advice tailored to each property and client. This includes realistic pricing strategies, targeted marketing campaigns, and access to a national database of active bidders.

As part of the wider BTG Eddisons group, we are supported by an extensive network of property specialists, allowing us to draw on in-depth local knowledge and specialist expertise whenever required. This integrated approach ensures each lot is positioned to achieve the best possible outcome.

A Trusted Route to Market

Whether you are selling a single property or managing a portfolio, BTG Eddisons Property Auctions offers a reliable and efficient route to market. Our growing bidder database, national reach and proven auction platform means properties are exposed to serious, motivated buyers from across the UK and beyond.

Above all, we pride ourselves on delivering a professional, straightforward service built on trust, experience and results.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 202601291829sq_nf9y. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by BTG Eddisons Property Auctions (SDL Auctions), Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call BTG Eddisons Property Auctions (SDL Auctions), Nationwide on 08000 465454.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Map data ©OpenStreetMap contributors.

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