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Heron Foods, Coniston Road, Chester, Cheshire, CH2

Fixed Price
£725,000

£191.80 per sq ft

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE

3,780 sq ft

351 sq m

SECTOR

Commercial property for sale

USE CLASSUse class orders: Class E

E

Key features

  • Rental Income: £55,000 p.a.
  • Gross Initial Yield: 7.59%
  • Comprises large retail premises with shared car parking t/a Heron Foods Supermarket
  • Let until 2037. Rent review in July 2027 capped at 12.50%. Tenant break option in 2032.

Description

Investment Consideration:
Gross Initial Yield: 7.59%
Rental Income: £55,000 p.a.
VAT is applicable to this property
Comprises large retail premises with shared car parking t/a Heron Foods Supermarket
Let until 2037. Rent review in July 2027 capped at 12.50%. Tenant break option in 2032.
Situated on arterial route in predominantly residential area with occupiers nearby including Co-Op Food, Beauty Salon, Takeaway`s, Barber Shop, Gift Store and many more.

Property Description:
Comprises large retail premises t/a Heron Foods Supermarket. The property benefits from shared parking with the adjoining public house and has been newly refurbished in 2022, providing the following accommodation and dimensions:
Ground Floor: 351 sq m (3,779 sq ft)
Open plan retail, storage, ancillary, wc

Tenancy:
The property is at present let to Heron Foods Limited* for a term of 15 years from 1st July 2022 at a current rent of £55,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 1st July 2027 open market upward only (capped at 12.50%). Tenant option to determine on 30th June 2032 with min 6 months notice.
*Heron Foods is one of the largest discount food retailers in the UK, having been established in 1979 and now trading from over 340 stores nationwide and employing over 6,000 people.
For the year end 30th March 2024, Heron Foods Limited reported a turnover of £560.585M, a pre-tax profit of £22.708M shareholder's funds of £98.064M and a net worth of £97,156M (Source: Experian 21.11.2024).

Tenure:
Long Leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn.

Location:
The historic and attractive cathedral city of Chester is the administrative centre for the county of Cheshire and a popular tourist destination, located some 21 miles south of Liverpool and 41 miles south-west of Manchester. Chester is well connected by key road networks, including the M53 to Liverpool, M56 to Manchester, A55 for North Wales, and A483 to Wrexham. The property is situated approx. 1.5 miles north east of the city centre on the west side of Coniston Road, opposite the vehicular entrance to the Kingsway Shopping Centre. Occupiers close by include a Co-op convenience store and a variety of local traders situated within Kingsway Shopping Centre in an otherwise predominantly residential area.

Brochures

Heron Foods, Coniston Road, Chester, Cheshire, CH2

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Chester Station0.8 miles
  • Bache Station0.9 miles
  • Capenhurst Station4.7 miles

About Blue Alpine, London

54 Welbeck Street, London W1G 9XS

Blue Alpine is a UK-wide property consultancy based in central London, focusing on commercial property, developments and residential blocks. Our services include disposals, acquisitions, lettings, auction advice, planning and architecture, dilapidations, and surrenders of leases.

Blue Alpine plans and delivers solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. By employing a transparent and consultative approach, we can assess and manage your current portfolio to devise a forward-looking investment plan and, if necessary, an exit strategy.

We are dedicated to disrupting the commercial property industry by delivering exceptional solutions that prioritise honesty, transparency, integrity, and providing an unparalleled client experience. Our team consists of knowledgeable professionals with a strong background in commercial property, enabling us to help clients around the world turn property into a path for growth.

Together, we unlock potential.

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