40 Northgate Street Chester Cheshire CH1 2HA

40 Northgate Street
Chester
Cheshire
CH1 2HA

Freehold Retail Investment in Historic City Centre

Let to Specsavers Optical Superstores Limited
New 3-year lease extension from September 2023 (subject to options)
Re-based rent. Previous rent £95,000 p.a.x.
Grade II Listed
Nearby retailers include Zara, The White Company, Pret A Manger, Tesco Superstore, Sainsbury's Local, Boots the Chemist, Superdrug, Starbucks, Costa Coffee, Greggs, Flannels and WHSmith

Lot
34
Auction
2nd November 2023
Rent
£65,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Investment in Historic City Centre

Let to Specsavers Optical Superstores Limited
New 3-year lease extension from September 2023 (subject to options)
Re-based rent. Previous rent £95,000 p.a.x.
Grade II Listed
Nearby retailers include Zara, The White Company, Pret A Manger, Tesco Superstore, Sainsbury's Local, Boots the Chemist, Superdrug, Starbucks, Costa Coffee, Greggs, Flannels and WHSmith

Lot 34
Auction 2nd November 2023
Rent £65,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles south-east of Liverpool, 37 miles south-west of Manchester
Roads: A51, A55, A56, M53, M56
Rail: Chester Train Station
Air: Liverpool John Lennon Airport

Situation

The property is prominently situated on the east side of pedestrianised Northgate Street close to the junctions of Eastgate Street, Westgate Street, Bridge Street and a short walk from The Grosvenor Shopping Centre. Nearby retailers include Zara, The White Company, Pret A Manger, Tesco Superstore, Sainsbury's Local, Boots the Chemist, Superdrug, Starbucks, Costa Coffee, Greggs, Flannels and WHSmith.

Tenure

Freehold.

Location

Miles: 17 miles south-east of Liverpool, 37 miles south-west of Manchester
Roads: A51, A55, A56, M53, M56
Rail: Chester Train Station
Air: Liverpool John Lennon Airport

Situation

Tenure

Freehold.

Description

The property comprises an optician arranged on the ground, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

The property comprises an optician arranged on the ground, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground First Second	Retail/Ancillary Consulting Rooms Ancillary	94.94 100.79 41.80	(1,022) (1,085) (450)	SPECSAVERS OPTICAL SUPERSTORES LIMITED (1) (t/a Specsavers)	3 years from 29/09/2023 (2)	£65,000
Total		237.53	(2,557)			£65,000

(1) For the year ending 28th February 2023, Specsavers Optical Superstores Limited reported a turnover of £3,426,710,000, a pre-tax profit of £327,774,000 and a net worth of £260,627,000 (www.northrow.com).
(2) The lease is subject to a tenant only option to determine on 29/09/2024 and annually thereafter.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.