Acting on behalf of Private Pension Trustee clients, BA Commercial have recently sold the freehold of Meridian House, 17-19 Boughton, Chester, CH5 3AE.
The premises comprised a modern and prominent commercial ground floor showroom together with two floors of offices over with the ground floor being vacant, and office tenants above. The premises provided a ground floor vacant showroom of 135 sq m (1435 sq ft), with the offices over comprising a total of 340.7 sq m (3667 sq ft) plus a double garage.
The premises had a current existing rental income of £28,500 pax, with potential to increase to over £50,000 pax, and have been sold off an asking price of £595,000. The property has been purchased by Capital & Income Estates Ltd.
Justin Rice-Jones who handled the sale on behalf of the firm commented “the building that was developed in the mid 1980’s and has been let on a multi-occupied basis in recent years. The premises attracted a good level of enquiries from both commercial and residential investors and we are delighted to have been able to conclude a sale to a known commercial investor purchasers who were keen to extend their portfolio within Chester.