Convenience Store & Residential Investment, 13 Queens Park View, Handbridge , Chester
Property Type: Retail
Tenure: For Sale
Space: 1,169 Sq Ft (108.6 Sq M)
For Sale: £300,000 for the Freehold
Property Features
Convenience Store & Residential Investment For Sale
Prominent location in Handbridge, Chester
£300,000 for the freehold
7.1% Net reversionary Yield
The property comprises a mid-terrace mixed use property of traditional Victorian construction and comprises a ground floor retail unit fitted out in conventional newsagents/convenience store style with extension to the rear plus storage areas, staff facilities and a rear access onto Bradford Street.
At first floor the property comprises a residential two bed apartment which has been refurbished in recent times.
TENURE & TENANCY'S
The property is held freehold subject to the two occupational leases, ground floor commercial lease and first floor AST.
The commercial unit is let to a private individual dated 4 September 2020, for a term of 15 years at a rental of £7,300, with an upcoming rent review in September 2025 with an ERV is in the region of £12,000 pax.
The residential tenant is paying £625 per month, total rental income of £14,800 pax.
The combined estimated rental can be guided in today's marker to be in the region of £22,000 + pax.
PRICE
£300,000 for the freehold.
7.1% Net reversionary Yield
Location
Handbridge is a district of Chester on the south bank of the River Dee, with the area running continuously into Queens Park. It is an attractive and affluently predominantly residential area of circa 5,000 residents, the suburb is well located and directly located to Chester City Centre to the north, with good connectivity to Chester Business Park and the A55 dual carriageway to the south.
The area is home to the Queens Park School, the Catholic High School, the Overly High School, Chester International School, The University of Chester, Queens Park Campus, South Cheshire College Campus and the Kings School Chester is nearby.
The leisure offerings within Handbridge include The Ship, The Handbridge, Grosvenor Arms, The Red Lion and The Carlton Tavern. Further amenities within the suburb include various cafes, butchers, pharmacy and a handful of professional services including Accounts, Financial Advisors and Asda convenience store and petrol station.
The property is situated on Queens Park View in a parade of 3 shops. Nearby occupiers include The Paradise Takeaway, former Meltdown café, The Carlton Tavern and the Wing Wah takeaway.
Agents for Convenience Store & Residential Investment
Please get in touch with our property agents to with any enquiries you have about this property