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Agent's details

1 High Street

For sale: £225,000.00|Other, Mixed Use, Other Property Types & Opportunities

Property details

FOR SALE£225,000.00
ADDRESS1 High Street, Chesterfield, S40 1PS
TYPEOther, Mixed Use, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th April 2024

Description

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.

Location

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Location: 1 High Street, Chesterfield, S40 1PS

Chesterfield (0.3 miles)

Dronfield (4.9 miles)

Dore (7.4 miles)

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