10 September, 2020
DOUBLE SUCCESS IN CHESTER CITY CENTRE
Acting on behalf of a long standing private clients of the firm, BA Commercial are delighted to confirm the sale of the investment block 2-12 Cuppin Street, CH1 2BN. The premises were only marketed from late July 2020.
The block comprised two shop units together with a restaurant, all of which are now let from completion, and the average rent from October will comprise £64,000 pax. A number of offers were received for this small portfolio and the premises have been sold to a National Investor to increase his commercial investments already in the North West.
Fundamental to the sale was the letting of the vacant premises at 2 Cuppin Street to a Liverpool based car broker which has been let on a new 5 year lease at an asking rental of £24,500 pax, who will occupy shortly.
Justin Rice-Jones who handled both matters commented “it has been good to conclude both the letting of the vacant and thereafter the investment sale of the whole block, and we extremely pleased to receive a substantial level of interest in the premises on the basis of a relatively short marketing campaign to the investment market. The potential for a return in excess of 10% on completion and the high level of visibility on entering the city centre from one of the main arterial roads were factors in us attracting such strong demand”.