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24 Chesterton Rd 2,791 sq ft 100% Let Retail Property Cambridge CB4 3AX £1,300,000 (£465.78/sq ft) 7.60% Net Initial Yield
Investment Highlights
- Consistent foot and vehicle traffic
- Surrounded by range of amenities
- 10 minute walk to the city centre
Executive Summary
The property is arranged over two storeys. The ground floor provides two commercial units. One large retail unit with significant frontage that is currently occupied by a carpet store, and one smaller unit which is currently occupied by a restaurant operator, which includes the maisonette above. The first floor comprises three further residential maisonettes, each with own front door on Chesterton Road. Mains electricity, gas, water and sewerage are connected.
There is a parking area to the rear of the property which includes a bin area and bike stand. This area is accessed via a private road to the right-hand side of 24A.
Current income: £105,100 per annum
There is a parking area to the rear of the property which includes a bin area and bike stand. This area is accessed via a private road to the right-hand side of 24A.
Current income: £105,100 per annum
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
2,791 sq ft
Costar Property Class
B
Year Built
1908
Price
£1,300,000
Price per sq ft
£465.78
Yield
7.60%
NOI
£98,800
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Plot ratio
0.26
Total Plot Size
0.25 ac
Parking
8 Spaces (3.72 Spaces per 1,000 sq ft Leased)
Frontage
95 ft on Chesterton Road
Amenities
- Security System
- Storage Space
1 1
Nearby Major Retailers
1 of 3
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24 Chesterton Rd
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