25 Chester Street
- An opportunity to purchase an income producing mixed commercial / residential investment property in a popular district on the outskirts of Chester.
- Comprising of a ground floor retail unit and three residential apartments. All of the apartments have been fully refurbished to a very high specification.
The subject property is located on the south side of Chester Street (A5104) in Saltney which is a popular district two miles South West from Chester City Centre. Chester Street is the principle arterial route through the suburb of Saltney and is a busy shopping street with a wide variety of different types of shops, restaurants, cafes, pubs and residential accommodation. The property occupies a prominent end of terrace position mid-way along Chester Street.
The subject property comprises an end of terrace, two storey property providing a retail unit at ground floor level with rear office, WC and kitchen. There are also three apartments all with independent access, with one being located at ground floor level and two at first floor level above the shop. A particular feature of the subject property is the standard and quality of accommodation provided with all three apartments having recently been fully refurbished throughout with fully fitted kitchens and bathrooms, UPVC windows and doors, new central heating systems with a decor to a high, modern specification to include recessed ceiling downlighters, modern colour schemes and laminate floorings.
The property has been measured on a Net Internal Area basis in accordance with RICS Property Measurement 1st Edition and comprises:
Sales Area: 329 sq ft (30.52 sq m)
Rear Office, W/C & Kitchen: 167 sq ft (15.55 sq m)
Apartment 1A is located on the ground floor and has it’s own separate entrance and comprises an appealing and large open plan kitchen/diner and double bedroom with en-suite bathroom.
Apartment 1B is located at first floor level with a private entrance shared with 1C and comprises of a kitchen, bathroom, separate lounge and double bedroom.
Apartment 1C comprises a large open plan kitchen/diner, bathroom and double bedroom.
The ground floor retail unit is let to CartridgeCom trading as Vapour–Hut on a lease dated 3rd May 2016 for a term ending on 2nd May 2021 at an annual rental of £6,760 per annum, with the tenant having an option to break on or after 3rd May 2019 on giving not less than 6 months prior written notice.
Apartment 1A is currently let on an Assured Shorthold Tenancy at a rental of £500 per month.
Apartment 1B is currently let on an Assured Shorthold Tenancy at a rental of £500 per month.
Apartment 1C is currently let on an Assured Shorthold Tenancy at a rental of £525 per month.
Summary of Income
The total income generated is £25,060 per annum.
The ground floor retail unit has an Energy Performance Asset Rating of D77. The three apartments have Energy Performance Asset Ratings of D65, E49 and E43. Full copies of the Energy Performance Certificates are available upon request.
All figures quoted are exclusive of, and may be liable to, VAT at the standard rate prevailing.
Each party is to be responsible for their own legal costs incurred in the transaction.
Further Information / Viewing
Please contact Jonty Goodchild of the sole retained agents Bolton Birch: Tel: 01244 311681 Email: email@example.com
Subject to contract