No longer on the market
This property is no longer on the market
MapIndustrial development
Under offer
Industrial development
2961
Features and description
- Mixed investment opportunity
- Existing businesses unaffected
- Total Gross Internal Retail Area 2,312 sq ft
- Total Current rent passing £35,600 per annum
- Net Initial Yield after costs 7.2%
Description
The property comprises of a prominently located investment comprising of a lock up commercial unit trading as Vets4Pets and a two bedroomed self contained residential flat with additional ground rent income from Newton Stores that are let on long leases within the freehold interest of the property.
The ground floor of the part two storey and part single property that is let to vets4pets provides a Total Gross Internal Floor Area of approximately 2,312 ft sq (214.77 m sq). This is arranged as consulting rooms and welfare facilities. To the first floor of the property structure there is a two bedroomed self contained residential flat that benefits from a separate external metal staircase. The residential flat provides a Total Gross Internal Floor Area of approximately 649 ft sq (60.29 m sq). The flat has pedestrian access to a paved outside external seating area that is accessed via French doors from the sitting room in the flat.
The property is of steel framework clad in brickwork with a flat roof covers to the two and single storey structures.
The ground floor of the property is let to Vets4Pets Veterinary Group Limited (Company Number 04263054) on an occupational lease with an unexpired term of approximately 5 years and the flat is let on an 12 month Assured Shorthold Tenancy from 13th October 2023 and is fully income producing.
The rest of the property ownership comprises car parking areas that serve the neighbourhood centre and the freehold ownership of properties held on long leasehold tenures, subject to ground rent payments.
The property ownership is under Title Number CH23970 and a small area land that is unregistered and subject to an indemnity policy.
The Total Site Area is approximately 0.262 acres (0.106 hectares).
Location
The property is prominently located fronting onto Brook Lane at the junction with Ermine Road in the area of the City of Chester known as Newton. The property forms part of a small neighbourhood parade that includes a Morrisons convenience store and residential flats. The parade serves the surrounding residential area.
The property is situated approximately 1 mile north east of Chester City Centre and located within proximity of the A56 and approximately 0.75 miles south east of the Countess of Chester Hospital.
Chester is a cathedral city and the county town of Cheshire and lies on the River Dee, close to the English/Wales border. The city had a population of 79,645 at the 2011 census. The city is a hub for major roads including the M53 motorway to Liverpool, M56 motorway to Manchester, The A55 that runs along the North Wales coast to Holyhead and the A483 that links the city to Wrexham.
The property comprises of a prominently located investment comprising of a lock up commercial unit trading as Vets4Pets and a two bedroomed self contained residential flat with additional ground rent income from Newton Stores that are let on long leases within the freehold interest of the property.
The ground floor of the part two storey and part single property that is let to vets4pets provides a Total Gross Internal Floor Area of approximately 2,312 ft sq (214.77 m sq). This is arranged as consulting rooms and welfare facilities. To the first floor of the property structure there is a two bedroomed self contained residential flat that benefits from a separate external metal staircase. The residential flat provides a Total Gross Internal Floor Area of approximately 649 ft sq (60.29 m sq). The flat has pedestrian access to a paved outside external seating area that is accessed via French doors from the sitting room in the flat.
The property is of steel framework clad in brickwork with a flat roof covers to the two and single storey structures.
The ground floor of the property is let to Vets4Pets Veterinary Group Limited (Company Number 04263054) on an occupational lease with an unexpired term of approximately 5 years and the flat is let on an 12 month Assured Shorthold Tenancy from 13th October 2023 and is fully income producing.
The rest of the property ownership comprises car parking areas that serve the neighbourhood centre and the freehold ownership of properties held on long leasehold tenures, subject to ground rent payments.
The property ownership is under Title Number CH23970 and a small area land that is unregistered and subject to an indemnity policy.
The Total Site Area is approximately 0.262 acres (0.106 hectares).
Location
The property is prominently located fronting onto Brook Lane at the junction with Ermine Road in the area of the City of Chester known as Newton. The property forms part of a small neighbourhood parade that includes a Morrisons convenience store and residential flats. The parade serves the surrounding residential area.
The property is situated approximately 1 mile north east of Chester City Centre and located within proximity of the A56 and approximately 0.75 miles south east of the Countess of Chester Hospital.
Chester is a cathedral city and the county town of Cheshire and lies on the River Dee, close to the English/Wales border. The city had a population of 79,645 at the 2011 census. The city is a hub for major roads including the M53 motorway to Liverpool, M56 motorway to Manchester, The A55 that runs along the North Wales coast to Holyhead and the A483 that links the city to Wrexham.
Property information from this agent
About this agent
Halls - Commercial Property
Halls Holdings House, Bowmen Way, Battlefield
Shrewsbury, Shropshire
SY4 3DR
01743 534860Halls Commercial provides a range of specialist commercial property services to clients of all sizes across the UK. We have a comprehensive knowledge of our markets developed over many years operating in this sector. Our service is forward thinking, personal and professional, designed to achieve the best results for our clients whatever their requirements. Although we operate nationwide, we retain a particular emphasis on the Midlands. Agency Services Our commercial agency team are on hand to offer friendly advice and market appraisals, helping you buy and sell commercial property throughout Shropshire, Worcestershire, Mid Wales, the West Midlands and beyond. We advise investors and developers on selling and acquiring commercial property, while also assisting with the acquisition of new premises or disposing of unwanted space. From offices and retail to industrial and leisure-based properties, we can guide you through the sale of all types of commercial property. Offering advice at every stage, we will help you find the best route to market and give you advice on how to attract the right buyers. We can also give guidance on development land, whether owner occupied or held as an investment. With strong links to buyers, our skilled and knowledgeable team are on hand to advise from start to finish. This includes guidance on any works required prior to sale, including applications for planning consent, refurbishment programmes and tenant disputes. Management Services Offering a strategic approach, we always have your future needs in mind. Whether you’re an experienced landlord or a one-off investor, we understand that your priority is to increase the value of your investment while minimising void periods and building a strong tenant profile. Working closely with our in-house marketing and PR team, we have a comprehensive tenant vetting process to help minimise your risks. If you’re looking to expand your commercial property portfolio, we will take the time needed to gain a full understanding of your needs and match you with properties suited to your business requirements within your timescales. Professional Property Services Halls Commercial is a team of RICS Registered Valuers with professional indemnity insurance cover of £10 million. As you would expect we are on the valuation panels of most of the major banks including Barclays, Lloyds, Royal Bank of Scotland, HSBC, NatWest, Handelsbanken, and Clydesdale. Our experienced team of valuers operates in accordance with RICS Valuation Standards (Red Book), International Financial Reporting Standards (IFRS) and UK GAAP and alongside the years of experience across our Commercial team, our valuations are backed by the latest valuation and appraisal software.