Retail premises for sale in Castle Street, Cirencester, Gloucestershire GL7

On the market for the first time in over 45 years!

An attractive Grade II listed, commercial property representing an exciting investment opportunity with potential for redevelopment, subject to obtaining the relevant consents.

The building is situated in the centre of the historic town of Cirencester and provides extensive retail and office accommodation with the benefit of parking and a private garden, lending it to redevelopment to either a single residence, multiple apartments or a mixed-use scheme (STP)

The building extends to a total of around 3,850 Sq Ft (gia) across 4 floors with separate access to upper parts from the rear.

Location

Cirencester, the "Capital of the Cotswolds, " offers a prime location due to its rich history, vibrant local community, and strong tourist market. The town attracts history enthusiasts and visitors exploring the Cotswolds' scenic beauty. With regular markets, nearby attractions, and events, there's steady foot traffic.

The presence of the Royal Agricultural University adds a youthful demographic, while the affluent local population ensures spending power. Cirencester's charming architecture and restaurant culture only serve to enhance its appeal to investors and owner-occupiers alike.

The Property

Retail
On the ground floor is an established retail property extending to around 90 SqM (970 Sq Ft). This element of the property has operated for over 15 years as a successful and established ladies clothing boutique but would lend itself to a number of other retail or hospitality uses.

Uppers
The upper floors are currently laid out as office and studio accommodation but have previously been occupied as residential accommodation in the form of a substantial 2-4 bedroom duplex apartment with separate rear access from the parking and garden area. This element for the property currently extends to around 142 SqM (1,530 Sq Ft) but could be re-configured to provide additional space.

Ancillary Space
The property benefits from an extensive basement, including former bank vault which would be suitable for strong-room use.

Outside
To the side of the property is an area of parking for 1-2 cars which leads to a large single garage, giving additional parking or storage. Behind this is a large courtyard garden with opportunities for both planting and hard landscaping.

Conversion Potential
It is considered that there is significant potential for the conversion of the property to provide either a substantial and attractive family home, several apartments, or a mixed use scheme, all with parking and garden, in an enviable town-centre location: The uppers of the property benefit from separate access to the rear, allowing them to be severed from the retail element. Equally, the building was originally constructed as a merchant’s townhouse and retains many original features that would lend themselves to re-conversion to a grand and impressive house (subject to the necessary consents being obtained).

Additional Information

Services: We understand that mains electricity, water, gas and sewerage are connected to the property.

Town and County Planning: The building is Grade II listed.

Tenure: The property is offered freehold subject to a commercial occupancy on the first and second floors which is governed by an excluded tenancy agreement to 31 March 2026 yielding a rent of £13,200 pax.

Non-Domestic Rates: The premises is assessed as having the following Rateable Values in the 2023 Non-Domestic Rating list:

• Ground Floor Retail: £10,250
• First Floor Retail/Studio: £10,750
• Second Floor Studio: £8,400

Bringing all elements within the scope of Small Business Rates Relief at 100% for qualifying businesses.

EPC: Band C

Local Authority: Cotswold District Council.<br /><br />