Highly prominent town centre retail and office investment
Summary
- For Sale - Freehold
- Part income producing with current rent receivable of £54,500
- Significant scope for asset management initatives to improve income
- 1,394.5 sq m (15,012 sq ft)
- On behalf of the Joint Fixed Charge Receivers
Location
The property is located in Chesterfield Town Centre, situated prominently to the western side of New Square, together with a second frontage to West Bars, and immediately adjacent to the outdoor marketplace, which has recently undergone extensive public realm works.
The property effectively forms an extension to Market Place, in a semi-pedestrianised location. The Pavements Shopping Precinct is within close proximity.
The former Chesterfield Borough Council Service Centre, which is earmarked for redevelopment, is situated to the side of the property. There are a number of national retailers within the immediate area and the premises is also positioned towards the town's professional business district and Chesterfield's Town Hall.
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Mainline Stations
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Chesterfield9 mins
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Dronfield93 mins
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Dore and Totley140 mins
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Matlock165 mins
Underground Station
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Chesham2148 mins
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Amersham2189 mins
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Chalfont and Latimer2208 mins
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Chorleywood2237 mins
Further Information
Price Offers in excess of £795,000
Rates Payable Upon Enquiry
Description
The property comprises a prominent four storey mixed use building, having ground floor retail units fronting New Square and West Bars and office accommodation to the upper floors. In addition, there is a mezzanine floor between the ground and first floor and a basement which is used for storage and maintenance facilities.
The building is of a reinforced concrete frame (columns and beams) with reinforced concrete floor slabs, beneath a flat roof. The building is clad with a combination of brickwork spandrels, precast reinforced concrete panels which have recently been replaced and extensive glazing.
In total, the building has four ground floor retail units; one larger unit which mainly fronts New Square but with a return frontage to West Bars, and three smaller units; one fronting New Square and two fronting West Bars. There is a separate entrance to the upper floor offices from New Square which has a staircase and a lift.
Internally, each of the ground floor units have been finished to the individual occupiers' standard corporate retail fit out. The larger unit (occupied by Chesterfield Bargain Centre) has the benefit of the mezzanine floor. The upper floor office accommodation is self-contained to each individual floor. There are a number of stud partition walls, which have been installed to create separate office accommodation. Heating is via wall mounted hot water radiators and each floor has the benefit of a kitchen and WC's.
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