1 High Street, Chesterfield

The property comprises a prime, high yielding, investment opportunity let to Clarks and offering excellent development/conversion potential to the upper parts (stp).

Arranged across basement, ground, first and second floors, the property occupies a prominent corner pitch in the heart of Chesterfield.

The ground floor and basement are let to C. & J. Clark International Limited (t/a Clarks) on a new five year lease expiring 31/05/2028 and paying a rent of £40,000 per annum. There is a further turnover rent which is calculated at 8% of any annual store turnover in excess of £500,000. We understand that the turnover rent was in excess of £10,000 per annum in the last year and that the store turnover regularly exceeds £500,000 per annum.

The upper parts are currently vacant and therefore may be suitable for conversion to alternative uses, including residential, subject to obtaining the requisite consents.

Chesterfield is a major market town and rail hub, the subject property sits on the prime retail pitch and benefits from a large return frontage to Market Place.