land
Ref 15342

Eildon & Merrowdown Halls

21-23 Lansdown Road
GL20 2JA Cheltenham

To buy£4,350,000
Size0.50 ac / 0.20 ha

Description

Student Investment / Redevelopment Opportunity in the Heart of Cheltenham

  • Freehold
  • The buildings are not listed
  • Substantial properties extending to approximately 21,916 sq ft (GIA)
  • Prominent and sought-after location within the affluent area of Montpellier
  • Operational student residence totalling 90 bed-spaces
  • Close to the established University campuses and a 5-minute walk to Cheltenham City Centre
  • Fantastic potential to enhance income, refurbish or redevelop for various alternative uses (STP)

Situation

Eildon and Merrowdown occupy a prominent and enviable position close to the city centre within the affluent area of Montpellier. Situated on the attractive tree-lined Lansdown Road, the immediate surrounding land uses are predominately residential and retirement, although the property is also close to the University of Gloucestershire Park Campus. The property is within a short distance to the vibrant and popular areas of Montpellier Walk and The Promenade which offer a range of bars, restaurants and boutique shops. The town centre including the main shopping areas, restaurants and cafés of The Brewery Quarter development are close by.

Description

The property comprises two substantial, detached former residential period town houses with purpose built rear anneses, which provide an operational student residence offering 90 student bed-spaces arranged over lower ground plus three upper floors. Both buildings are identical in layout and comprise 54 student bed-spaces across the two period properties and 36 student bed-spaces across the purpose built rear annexes.The two period buildings retain many features typical of traditional town houses of their time and were converted in 1994. All rooms within the period properties have shared bathrooms and each cluster contains between six and seven bed-spaces, communal kitchen and dining area. The purpose built rear annexes were constructed in 2003. All rooms are en-suite and each cluster flat contains between four and five bed-spaces, communal kitchen and dining area. The property is offered with existing furnishings, fully equipped spacious shared kitchens,bedrooms including a single bed, wardrobe, bookshelves and desk.The property also benefits from an on-site communal laundry room, bicycle storage areas, gas central heating, WiFi and etheret internet connection and door intercom entry system There is no lift access throughout. The site extends to approximately 0.61 acres.

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Energy rating

Energy rating C-C

Location and Transport

The Regency spa town of Cheltenham is a borough in Gloucestershire located on the edge of the Cotswold Hills. The town is well served by the M5 motorway, accessed via Junctions 10 and 11 and is approximately 8.4 miles to the north east of Gloucester, 39 miles north east of Bristol and 35 miles west of Oxford. The town has excellent transport links with Cheltenham Spa railway station located 0.5 miles to the north west of the property providing regular main line railway services to Bristol, Birmingham and London. There are a number of bus stops in close proximity. The town is famed for its Racecourse and hosts numerous International Literature, Jazz, Music and Science Festivals as well as offering some of the leading education establishments with Cheltenham College, Dean Close School, Pate’s Grammar School and Cheltenham Ladies College all nearby.