Vets 4 Pets 34 Brook Ln 2,747 SF Retail Building Chester CH2 2EB $671,366 ($244.40/SF) 7.60% Cap Rate

The property comprises a modern steel frame building with brick elevation, comprising a ground floor commercial veterinary practice and a one bedroom apartment at first floor.
The property is fully DDA compliant at ground floor and is fitted out to a high standard at ground floor level with tenants alterations including stud wall partitioning to separate customer facing and veterinary areas.
34A (residential) consist of a modern 2 bedroom apartment with balcony and parking.
Externally the property benefits from car parking and easy access onto Brook Lane.
Vets4Pets Chester LTD have a lease of the ground floor with a rent of £29,000 pax, the lease is from 27 April 2023 for 10 years with a break and rent review in 2028 with a maximum rental increase of £32,625pax. The lease is Guaranteed by the wider group VETS4PETS VETERINARY GROUP LIMITED (Company number 04263054).
The Residential flat (34a), is let currently at £10,800 pax.
Total income - £39,800 pax
PRICE
£500,000. Which represents a Net Initial Yield of 7.60% after
usual purchase cost.