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See how verdicts work6-bedroom semi-detached house · GL50 1NW
For saleListed 502 days
Opportunity summary
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About
An exceptional and rare opportunity to acquire a Grade II listed semi detached stone townhouse with planning granted to convert from a commercial office to a residential home ideal for anyone seeking a true Cheltenham townhouse.
Description 121 Promenade is the most elegant semi-detached, Ashlar Stone townhouse forming part of this landmark terrace in the heart of Cheltenham’s centre.
Overlooking the elegant central gardens of Imperial Square, this is very much town living at its best.
Over the years it has run as a successful Commercial office building and one that is iconic within the town, planning has now been granted to convert this into a residential house with a self-contained lower ground floor apartment.
Listed Grade II, this is a building of elegance retaining many of the original period features, including working shutters, fireplaces and ornate cornice throughout the four floors, these are a wonderful feature to maintain in the conversion property.
Outside The property sits behind wrought iron railings opening to the parking, with two access points, one from Promenade and one from Montpellier Street to the rear, a quiet, one way back lane.
The plans for the gardens are a pretty landscaped area to the front. Situation The Promenade is without doubt the most iconic address within Cheltenham.
This landmark upper road in the town epitomises the classic street scenes of fine Georgian architecture that Cheltenham is so well known for.
The road itself is home to the famed 131 restaurant and rooms, and some prestigious offices.
Overlooking the elegant and beautifully manicured central Imperial Gardens, the location offers the very best of town living highly regarded for its classical restaurant scenes, wonderful festivals and lively café culture which has made living in town so highly desired.
The Cheltenham Ladies’ College, Cheltenham College and Dean Close are all within a comfortable walk in addition to the boutique shopping in Montpellier and on the Promenade itself.
Communication links are highly accessible to the M5, A40 and A435 and Cheltenham Spa train station is under a mile away so quick walking distance.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About 121, Promenade, Cheltenham, Gloucestershire, GL50
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