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57-59 Front St 2,260 sq ft Retail Property Chester Le Street DH3 3DD £230,000 (£101.77/sq ft) 9.57% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Long Secure Lease in place
- Further Prospect of Future Development Subject To Planning
- Fully Fitted Out Unit
EXECUTIVE SUMMARY
The property features a long secure lease in place, with a 10-year lease commencing from July 2022. Rent reviews are scheduled every 5 years, with the annual rent set at £22,000. Additionally, the tenant is responsible for the annual building insurance separately, making this a lucrative investment for those seeking steady and secure long-term income.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront
Property Size
2,260 sq ft
Costar Property Class
C
Year Built
1990
Price
£230,000
Price per sq ft
£101.77
Yield
9.57%
NOI
£22,000
Tenancy
Single
Number of Floors
2
Plot ratio
1.73
Total Plot Size
0.03 ac
Frontage
37 ft on Front Street
AMENITIES
- Banking
- Bus Route
- Corner Lot
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57-59 Front St
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