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Just added
£235,000
(£258.24/sq. ft)
Retail premises for sale
24 Black Jack Street, Cirencester GL7910 sq. ft
Local area information
Property location
Nearby amenities
- Powell's Church of England Primary School 0.2 miles
- Paternoster School (SEN) 0.4 miles
- Kemble 3.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Cirencester to find out more about the local area.
Features and description
- Total Income £17,080 per annum rising to £17,580 per annum in 2027.
- Attractive Book Shop at the ground floor
- 4 Apartments on first & second floors sold off subject to ground rents
- Popular historic town
Cirencester is an affluent and historic Gloucestershire market town, originally established by the Romans in the first century, often referred to as “Capital of the Cotswolds”. Located 95 miles north west of central London, 40 miles north east of Bristol and 15 miles south east of Cheltenham. Good communication at the junction of A429, A417 and A419. Roughly equidistant between junctions 13 of the M5 and junction 15 of the M4 at Swindon.
Most popular Cotswold town with a residential population of over 20,000 persons . Wealthy older population with high spending levels per capita, considerably enhanced due to tourism. Also the base to the Royal Agricultural College founded in 1840 which attracts over 1,200 students a year and St James Place Wealth Management Headquarters (ftse 100). Significant further residential development planned for the outskirts of the town. Attractions include the Roman Amphitheatre, Corinium Museum, Church of St John the Baptist. Cirencester homes the ninth Earl and Countess of Bathurst. Cotswold Water Park.
The prime retailing is focused on Market Square and Cricklade Street with other important streets off Market Place including Castle Street, West Market place, Dyer Street and Black Jack street.
The subject property is located on the norther side of Black Jack Street in close proximity to Jacks, Golden Cross Public House, The Candyman, Jesse Smiths Butchers/ Knead Bakery, stable yard with various outlets, Troj jewellery, Lola fashion, Sassy and Boo fashion, the Boutique, Luxe Café bar, Gilbertine Deli, John Lewis of Hungerford Kitchen Designers.
A period building of predominately stone construction with shop front on the ground floor. Planned over 4 levels including basement. Access to the apartments are from a passage way entrance from Black Jack Street on the left hand side of the shop.
The ground floor area of the shop provide a total of about 560 sq ft net internal including front section at 328 sq ft, rear part 198 sq ft, kitchen 34 sq ft. The lease includes a basement which has limited height head room but can be used for storage. Usable area estimated to be approx. 350 sq ft. The shop trades as Octavia’s Bookshop.
Upper parts. At first and second floors there are 4 apartments held under 999 year leases at annual ground rents of £20 each. The flat owners are responsible for stairwell to their apartments and each contribute 20% towards the costs of buildings insurance, fire regulations, building repairs etc and management services.
Rental income is currently at £17,080 per annum rising to £17,580 per annum in 2027. Of this, current rent of the shop let to Octavia Emmanuel is £17,000 per annum rising to £17,500 per annum in February 2027.
The lease is for a term of 10 years from the 1st February 2019 expiring at the end of January 2029.
The tenant has an Option to break the lease on 12 months prior notice. The tenant contributes to a fifth of the cost of the building insurance, repairs to structure and exterior maintenance subject to an annual cap of £500.
Subject to Contract
The freehold property is offered for sale, subject to the existing tenancies by private treaty.
Price guide £235,000 exclusive of VAT which would show, after normal purchasers costs, the net initial yield about 7.1% rising to 7.4% when the rent increases in 2027.
It is understood that the sale will attract VAT on the price.
Most popular Cotswold town with a residential population of over 20,000 persons . Wealthy older population with high spending levels per capita, considerably enhanced due to tourism. Also the base to the Royal Agricultural College founded in 1840 which attracts over 1,200 students a year and St James Place Wealth Management Headquarters (ftse 100). Significant further residential development planned for the outskirts of the town. Attractions include the Roman Amphitheatre, Corinium Museum, Church of St John the Baptist. Cirencester homes the ninth Earl and Countess of Bathurst. Cotswold Water Park.
The prime retailing is focused on Market Square and Cricklade Street with other important streets off Market Place including Castle Street, West Market place, Dyer Street and Black Jack street.
The subject property is located on the norther side of Black Jack Street in close proximity to Jacks, Golden Cross Public House, The Candyman, Jesse Smiths Butchers/ Knead Bakery, stable yard with various outlets, Troj jewellery, Lola fashion, Sassy and Boo fashion, the Boutique, Luxe Café bar, Gilbertine Deli, John Lewis of Hungerford Kitchen Designers.
A period building of predominately stone construction with shop front on the ground floor. Planned over 4 levels including basement. Access to the apartments are from a passage way entrance from Black Jack Street on the left hand side of the shop.
The ground floor area of the shop provide a total of about 560 sq ft net internal including front section at 328 sq ft, rear part 198 sq ft, kitchen 34 sq ft. The lease includes a basement which has limited height head room but can be used for storage. Usable area estimated to be approx. 350 sq ft. The shop trades as Octavia’s Bookshop.
Upper parts. At first and second floors there are 4 apartments held under 999 year leases at annual ground rents of £20 each. The flat owners are responsible for stairwell to their apartments and each contribute 20% towards the costs of buildings insurance, fire regulations, building repairs etc and management services.
Rental income is currently at £17,080 per annum rising to £17,580 per annum in 2027. Of this, current rent of the shop let to Octavia Emmanuel is £17,000 per annum rising to £17,500 per annum in February 2027.
The lease is for a term of 10 years from the 1st February 2019 expiring at the end of January 2029.
The tenant has an Option to break the lease on 12 months prior notice. The tenant contributes to a fifth of the cost of the building insurance, repairs to structure and exterior maintenance subject to an annual cap of £500.
Subject to Contract
The freehold property is offered for sale, subject to the existing tenancies by private treaty.
Price guide £235,000 exclusive of VAT which would show, after normal purchasers costs, the net initial yield about 7.1% rising to 7.4% when the rent increases in 2027.
It is understood that the sale will attract VAT on the price.
More information
Listed by
John Ryde Commercial
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