5 November, 2018
Upton, Chester, Retail Investment Sold
Acting on behalf of private SIPP investor, BA Commercial are pleased to confirm the sale of an investment property at 72-74 Weston Grove, Upton by Chester, CH2 1QL.
The property comprised a double unit in a busy suburban parade in this popular Chester suburb, extending to a total of 248 sq m (2670 sq ft), over two floors, and is let to T&S Stores t/a T&S Stores Ltd on the balance of a lease at £16,500 pax until 2020.
A figure in line with the asking price of £250,000 has been agreed to Irish based investment purchasers.
Justin Rice-Jones who handled the sale commented “the firm have dealt with this building in the region of 20 years following the original acquisition by our client, when it was let to a local trader. The building is now vacant, the tenants having relocated into a purpose built store nearby, but if offers potential for possible sub-division/reletting in the future and was well received on the investment market, due to longer term prospects and there was a good degree of interest in the opportunity. An attractive figure was achieved, reflecting the good longer term potential”.