30 & 32 Bridge Street & 28 & 30 Bridge Street Row , Chester, Cheshire, CH1 1NQ

Description

The property comprises a mixed-use commercial building, incorporating the established Urbano 32 restaurant at street and row level, together with two residential apartments arranged over the upper floors.

The commercial accommodation provides a well-established restaurant premises with accommodation arranged over the street and row levels. The property benefits from a clear separation between the commercial and residential elements.

The upper floors comprise two self-contained one-bedroom apartments. Both units are finished to a good standard and provide well-proportioned residential accommodation, with each apartment offering a separate living and bedroom area together with kitchen and bathroom facilities.

The combination of the established restaurant accommodation and two residential units provides a straightforward mixed-use configuration, with commercial and residential accommodation contained within the same property. The property is Listed. Grade: II*

TENURE & TENANCY'S
The property is held Freehold (CH194432) subject to the occupational lease.

The residential apartments (Flat 1 & Flat 2, 30 Bridge Street Row), are let at rents of £9,000 per annum and £8,340 per annum, respectively. In our opinion, both rents are below current market levels.

The commercial element is held on the balance of a 10-year lease commencing on 15 May 2018. The lease has been extended for a further 5 years from the 15th May 2028, higher of £60,000 or Open Market Rent

The lease is on Tenants Repairing and Insuring terms at a passing rent of £60,000 per annum.

Total Income: £77,340 per annum.


INVESTMENT FOR SALE

FREEHOLD RESTAURANT & RESIDENTIAL INVESTMENT


£975,000 for the freehold
7.50% Net Initial Yield

Total income £77,340 pa