Resi Development | GL1

Hollis Morgan - A Freehold vacant 3 STOREY COMMERCIAL PREMISES ( 2795 Sq Ft ) with scope for 3 X STUDIO FLATS and RETAIL UNIT in the centre of Gloucester ( stc )

The Property - ADDRESS | 51 Westgate Street, Gloucester GL1 2NW

A Freehold commercial premises with accommodation ( 2795 Sq Ft ) arranged over 3 floors plus basement and roof terrace. The property has a substantial frontage and an excellent trading position in this sort after semi pedestrianised area of the City Centre just moments from Gloucester Cathedral.
Crucially there is established pedestrian access to the side of the property leading to an independent staircase providing access to the upper floors.
We understand the property has been previously used for retail, offices and storage.
Sold with vacant possession.

VAT - We are informed the property is subject to VAT - please refer to online legal pack.

Location - The property is located on the busy and vibrant Westgate Street which offers an array of amenities including high street retailers, convienence stores, cafes and public houses. The Gloucester Quays outlet shopping centre, which is within a short walk of the property, is one of the largest and most ambitious regeneration developments in the UK. Ideally located to serve the M5 corridor from Bristol to Birmingham, it offers a unique architectural waterside setting complemented by designer brand shops, affluent bars and gourmet restaurants.

The Opportunity - RESIDENTIAL DEVELOPMENT

The upper floors have independent pedestrian access via an attractive courtyard to the side of the property ( i.e. you will not need to convert the shop front to provide access )
The layout of the upper floors will lend itself to the creation of 3 self contained residential studio flats two with access to the roof terrace and scope to potentially create another roof terrace for the top floor unit.
Interested parties should also note adjacent properties have a higher roof line and there may be scope to add another storey.
Please note no planning of this nature has been previously sought and interested parties will need to make their own investigations and is subject to gaining the necessary consents. .

COMMERCIAL INVESTMENT

If the upper floors were to be converted then the ground floor and basement retail unit has scope for an excellent investment with independent ancillary area and bathroom facilities already in place.
We also understand there is a grant scheme in place by Gloucester Council to upgrade and renovate the shop front.

REDUCED FOR AUCTION

The property was previously listed with local agents for £205,000 and is now offered with a reduced guide for sale by auction.

Property Details Disclaimer - Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact, and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation, or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide-angle lens. The seller does not make any representation or give any warranty in relation to the property, and we have no authority to do so on behalf of the seller.