Old Hall Road, Chesterfield OIRO £195,000

A rare opportunity to acquire prominent freehold mixed-use premises on Old Hall Road, with a long-established beauty studio to the ground floor, and a deceptively spacious one-bedroom flat above.

199 Old Hall Road
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 first floor is a deceptively spacious 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.

 A viewing is essential to appreciate the scope of the accommodation on offer.

Ground Floor
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 spacious and comfortable one bedroom flat, accessed from the side with its own separate access.

Upper Floors
A uPVC entrance door opens into a small entrance hall off which stairs rise to the first-floor landing. Off the first-floor landing is a large reception room to the front aspect with a pleasant outlook, a good size kitchen providing space for a table if desired, with a storage cupboard/ pantry off, and a bathroom comprising of a bath, wash basin and WC.

Stairs rise form the landing to the bedroom which is within the roof space, providing a spacious bedroom with a contemporary loft feel.

Whilst the flat has been well maintained over the years with a long standing tenant, now empty the flat would benefit from a scheme of refurbishment and modernisation, or could be reconfigured to provide a different layout if so desired which will see increases in rental return.

One-bedroom flats within the vicinity have achieved circa £650 per calendar month depending on quality and condition.

Material Information
- Conventional masonry construction contained below a pitched roof.

- The property appears connected to mains gas, electricity, water and drainage services.

- Ground Floor – 49.5 Sq.M/  533 Sq.Ft together with a basement/ cellar of 10.0 Sq.M/ 108 Sq. Ft – total 59.5 Sq.M/  641 Sq.Ft

- First Floor – 35.9 Sq.M/  387 Sq.Ft together with 16.1 Sq.M/  173 Sq.Ft to the second floor – total flat 52 Sq.M/  560 Sq.Ft

- Total – 111.5 Sq.M/  1,201 Sq.Ft approx. – please note all measurements are approximate.

- Off road parking is available to the side.

- Upon website enquiry we believe the property is entered in the current rating list at £3,750 Rateable Value under the description salon and premises.

- Upon website enquiry we believe the property is entered in the current council tax list as Band A as 199a Chatsworth Road.

- The property is situated within the Chesterfield Borough Council’s administrative area.

- EPC Rating Ground Floor - TBC

- EPC Rating First Floor - TBC

- Freehold Tenure under Title reference DY317007