199 Old Hall Rd 1,201 sq ft Retail Property Chesterfield S40 1HG £195,000 (£162.36/sq ft) 8.30% Net Initial Yield

Situated in a very prominent position on Old Hall Road at its junction with Barker Lane, the property offers an excellent opportunity to acquire freehold premises in this highly desirable position providing an excellent investment opportunity. The property has been well looked after by the current owners, including replacement of the roof and windows to the flat in recent years.
To the ground floor is an excellent beauty salon space which is occupied by long established and well-respected Avalon Beauty Studio.
To the ground floor the premises provide an excellent beauty salon unit in a prominent position, with frontage and a large display window to Old Hall Road. There is also parking to the side accessed from Barker Lane providing excellent accessibility and convenience.
The salon has been occupied for over 20 years years by Avalon Beauty Studio, a well-respected and long established beauty salon that has a well-respected reputation.

Whilst the current lease expires in January 2027, the current tenant has confirmed they would look to renew subject to term and terms. The rent has been recently reviewed to £8,400 per annum exclusive, payable at £700 per calendar month.
To the first floor is a one-bedroom flat with accommodation over two floors which would benefit from a scheme of modernisation, providing excellent scope to add value.
The premises provide an excellent investment opportunity, with the potential to provide a yield of circa 8.3% plus.