New Street, Town Centre, Cheltenham Gl50
South West
£300,000
Listed on 03/10/2026
Listed on 03/10/2026
The listing
Property details
Bedrooms
3Type
TerracedArea
689 sqftDescription
This three-bedroom cottage in central Cheltenham is offered with an existing brick outbuilding and planning permission for new apartments at the rear. The approved scheme allows for two one-bedroom apartments in place of the outbuilding, with a further option to demolish the cottage and build two additional apartments. The cottage could therefore be retained while the rear element is developed, or the wider consented scheme could be pursued. Buyers should review the approved drawings, decision notices and conditions and make their own enquiries with Cheltenham Borough Council.
WHOTS analysis
Our WHOTS verdict
An internal assessment of the opportunity to acquire, improve and create value.
42out of 100
Grade ELow opportunity
Confidence: MEDIUM
The cottage presents as a clean, usable home, with a serviceable fitted kitchen and living spaces, while the dated bathroom offers a straightforward cosmetic refresh. Its standout feature is the stated planning permission for two apartments at the rear, giving a buyer the option to retain the cottage while developing the outbuilding site; the consent and its conditions should be checked carefully.
The main constraint is the price: £300,000 works out at about £435 per sq ft, above the local average of £378. With the £5,000–£15,000 refurb range, the purchase price plus works would also sit above the local benchmark for a home of this floor area. That comparison is against current local values, not a forecast of what the completed development could be worth, so the scheme’s potential needs to be assessed separately.
Key opportunities
- Retain the three-bedroom cottage and explore building the two consented apartments at the rear.
- Use the cottage as a home or rental while the rear scheme is carried out.
- Refresh the dated bathroom finishes; the photographed kitchen and living spaces appear clean and usable.
Key risks
- At the asking price, adding the stated £5,000–£15,000 refurb range leaves purchase-and-works costs above the local benchmark for this floor area; the development’s eventual value is not established by that comparison.
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Transport
Nearest stations
Cheltenham Spa Rail Station
0.9 miles
Train · Cheltenham
Ashchurch for Tewkesbury Rail Station
6.7 miles
Train · Ashchurch
Gloucester Rail Station
7.2 miles
Train · Gloucester
Stroud (Glos) Rail Station
12.4 miles
Train · Stroud
Contains public sector information from NaPTAN (DfT) licensed under the Open Government Licence v3.0.
Finance
Mortgage calculator
Illustrative repayments based on the asking price, not a mortgage offer.
£
£
£
%
%
years
Current average 2-year fixed rate is 4.45%
Current average variable rate is 6.60%
Monthly Repayments
£1,133
Based on a loan of £225,000 over 30 years at 4.45% interest
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
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