Freehold Retail Investment For Sale
The premises comprise an end terrace retail unit of mock Tudor construction beneath pitched roofs. The premises provide ground and first floor sales areas with ancillary accommodation at basement and second floor. The property currently trades as a Barbour franchise.
The historic and affluent cathedral city of Chester has a resident population of 132,087 and an estimated catchment population of 810,000 people ranking the city 15th out of the PROMIS centres.
- Situated on St Werburgh Street in close proximity to Chester Cathedral
- St Werburgh Street connects the prime retail pitch of Eastgate Street to Northgate Street
- Let to Country Couture Ltd t/a Barbour
- Reversionary lease expiring 31 July 2027
- Passing rent £40,000 pa
- Fixed rent increase to £44,000 pa from 1 August 2022
- Seeking offers in excess of £640,000 subject to contract and exclusive of VAT
- Net Initial Yield: 5.94% after costs at 5.16%
- Reversionary Yield from August 2022: 6.54% after purchaser’s costs at 5.16%