London Road, Cheltenham, Gloucestershire, GL52

A fabulous Grade II listed end of terrace property arranged as five apartments, currently producing £65,640 per annum in rent, available as an investment opportunity.

53 London Road is a Grade II listed property at the end of a terrace of period houses. It has a painted façade, tall sash windows and a garden behind railings. Inside, several rooms still have the high ceilings and cornicing of the original house.

The main house three flats, one arranged on each floor, with two more in the rear section. The scale of the original building is most apparent in the generous first floor flat. Across the five flats there is approximately 3,320 sq ft of accommodation.

Outside, there is garden space at the front and rear, together with two parking spaces. The present owner has undertaken substantial work to the building, replacing the roofs, repointing the chimneys, repairing the parapets and repainting the exterior. Solar panels and battery storage have also been installed. The seller advises that planning permission and listed building consent were obtained for the works.

Situation

53 London Road occupies an attractive position on the eastern side of Cheltenham, close to the town centre and surrounded by the period architecture for which the town is known. Sandford Park is nearby, providing gardens and open space within easy reach, while the Cheltenham Lido and Cheltenham General Hospital are also close at hand.

The High Street provides a broad range of everyday shopping, and the centre has much more to offer. The Promenade, with its broad, tree lined pavements, leads past Imperial Gardens towards Montpellier, where independent shops, galleries and restaurants give the area its distinctive character. Bath Road offers a further choice of specialist food shops, cafés and pubs. These different areas make Cheltenham an enjoyable place to spend time, whether shopping during the day or going out in the evening.

Cheltenham’s cultural calendar adds considerably to its appeal. The Everyman Theatre presents productions throughout the year, while the literature, jazz, science and music festivals bring visitors and performers to the town. The gardens and open spaces offer a quieter side of Cheltenham, with Sandford Park particularly convenient from London Road. There is an attractive balance here between the activity of the centre and the opportunity to enjoy time outdoors.

There is a choice of schools in the area, including Holy Apostles’ and St John’s for primary education, and Balcarras in Charlton Kings. Independent schools include Ashley Manor Prep on London Road, St Edward’s and Cheltenham College.

London Road continues east through Charlton Kings towards the Cotswolds. The A40 provides routes towards Gloucester and Oxford, with access to the M5 on the western side of Cheltenham. Cheltenham Spa railway station offers services towards Bristol, Birmingham and London.

Important Information:

Tenure: Freehold.

Rental Income: The current rents, as advised by the seller, are:

Flat 1: Two bedrooms, £975 pcm
Flat 2: One bedroom, £995 pcm
Flat 3: Two bedrooms, £1,200 pcm
Flat 4: Two bedrooms, £1,500 pcm
Flat 5: One bedroom, £800 pcm
Total Monthly Rent: £5,470.
Gross Annual Rent: £65,640.

Energy Performance Certificates: EPC's are available for each apartment are avilable on request or can be access via the online database.

Services: Mains water, electricity, gas and drainage. Gas central heating is provided to the flats. Flat 4 also benefits from Solar.

Parking: Two off street spaces to the rear. On street parking is within permit zone Z2, subject to eligibility and availability.

What3Words: feels.hits.shared

Local Authority and Council Tax Band: Cheltenham Borough Council. All apartments are Band A.

Viewing: Strictly by prior appointment with Jackson-Stops Cheltenham.