Freehold Retail Parade Investment
Freehold Retail Parade Investment
Chester is an affluent and historic University City. The property is situated in a prominent corner location on the south side of Foregate Street, at its junction with Bath Street. Neighbouring occupiers include Argos, KFC, William Hill, J D Wetherspoon and New Look. The property is located in close proximity to Chester Cathedral.
Freehold.
Chester is an affluent and historic University City. The property is situated in a prominent corner location on the south side of Foregate Street, at its junction with Bath Street. Neighbouring occupiers include Argos, KFC, William Hill, J D Wetherspoon and New Look. The property is located in close proximity to Chester Cathedral.
Freehold.
The property is a substantial corner building comprising 4 separate
retail units (3 of which have A3 Restaurant Café use) providing retail accommodation on the ground floors and ancillary accommodation on the first floor. The second floor comprises self-contained office accommodation which is accessed from Bath Street and known as Belgrave House.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property is a substantial corner building comprising 4 separate
retail units (3 of which have A3 Restaurant Café use) providing retail accommodation on the ground floors and ancillary accommodation on the first floor. The second floor comprises self-contained office accommodation which is accessed from Bath Street and known as Belgrave House.
VAT is applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Unit | Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Reviews | |
|---|---|---|---|---|---|---|---|---|
| 112 | Ground First |
Restaurant Ancillary |
78.60 sq m 86.10 sq m |
(846 sq ft) (927 sq ft) |
BELLY FULL (CHESTER 2) LTD |
10 years from February 2013 until 2023 on a full repairing and insuring lease |
£30,000 | 2018 |
| 114 | Ground First |
Retail Ancillary |
79.14 sq m 71.30 sq m |
(852 sq ft) (767 sq ft) |
INDIVIDUALS |
10 years from 29/10/2009 until 2019 on a full repairing and insuring lease |
£31,250 | 29/10/2014 |
| 116 | Ground First |
Retail Ancillary |
81.41 sq m 97.00 sq m |
(876 sq ft) (1,044 sq ft |
BRIDAL FASHIONSLTD (1) |
15 years from 17/09/2003 until 2018 on a full repairing and insuring lease |
£27,500 | 17/09/2013 |
| 118 | Ground First |
Retail Ancillary |
77.60 sq m 78.20 sq m |
(835 sq ft) (842 sq ft) |
SIMPLY SUBS LTD t/a Subway |
15 years from 14/10/2003 until 2018 (2) |
£30,000 | 14/10/2013 |
| Belgrave House | Second | Office | 366.00 sq m |
(3,939 sq ft) (3) |
INDIVIDUALS | 200 years from 10/08/2005 | Peppercorn | |
| Totals | 1,015.35 sq m |
(10,928 sq ft) |
£118,750 | |||||
Totals 1,015.35 sq m (10,928 sq ft) £118,750
(1) For the year ending 31/12/2011, Bridal Fashions Limited reported a turnover of £7,594,419, pre-tax profits of £110,396 and a total net worth of
£2,441,924. (Source: www.riskdisk.com 04/06/2013)
(2) There is a tenant option to determine the lease in October 2013, with no less than 3 months notice. The tenant has corresponded with the
seller stating they wish not to exercise their break.
(3) As to Belgrave House offices the floor areas stated above are those published by the Valuation Office Agency. www.voa.gov.uk
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