40-44 Foregate Street, Chester

Prime retail investment

DTZ Investors, advised by Bruce Gillingham Pollard, acquired the freehold interest of 40-44 Foregate Street, Chester from Aviva Investors for £9,300,000 reflecting a net initial yield of 5.00%. The entire investment is let to Waitrose Ltd, Claire’s Accessories Ltd and The Body Shop International Plc at a total current rent of £487,500 per annum.
Located within the extensive and affluent catchment of Chester, this was a rare opportunity to purchase three prime retail units on the prime pitch of the historic cathedral city.
We were delighted to have helped secure this high profile purchase for DTZ Investors.  Being able to advise clients with the knowledge, insight and passion from our highly experienced leasing team offers a major advantage to our clients.

Project Detail

A prime parade of three shops totalling 1,257 sq m (13,535 sq ft) of modern, ‘open plan’ retail accommodation.

The Waitrose store was redeveloped behind the existing façade to provide 866 sq m (9,320 sq ft) of modern, open-plan sales accommodation on ground and first floors, of which 568 sq m (6,109 sq ft) is trading space on the ground floor.

The investment is situated in a prime location on Foregate Street between the newly refurbished Marks & Spencer store and Primark and in close proximity to Boots, WH Smith, BHS, HMV and New Look.
DTZ Investors is an experienced investment manager responsible for £4.8bn assets under management in the UK and a further £2.5bn of third party real estate investments in continental Europe.
Please contact Harry Wills or Jack Barratt.