Front Street, Chester Le Street, County Durham, DH3

The property comprises a high yielding retail investment let to Lloyds Bank and occupying a prominent High Street position. Arranged across ground and first floors, the property is fully let to Lloyds Bank Plc on a 10 year lease expiring 31/10/2028 and producing £25,000 per annum.
The property benefits from a rear yard and the tenant also occupies the adjacent unit. The property benefits from a prominent frontage to Front Street, the principal retail amenity in the town. The street is characterised by a mix of local and national tenants including Costa, Specsavers and Boots. There is also a large Morrisons supermarket to the rear of the property.

Location:
Situated on a prime position on Front Street near the junction with Wesley Terrace. Local occupiers include Subway, Hays Travel, Card Factory and Savers.


Areas:
Ground floor: 127.6 sq m / 1,373 sq ft
First floor: 67 sq m / 721 sq ft
Total size: 194.6 sq m / 2,094 sq ft


Tenancy:
The property is fully let to Lloyds Bank Plc on a 10 year full repairing and insuring lease expiring 31st October 2028 and producing £25,000 pa.

Terms:
Available freehold at £175,000 subject to the tenancy detailed above and producing a gross initial yield of 14%.

VAT:
No VAT applicable