Chester’s Hobbs building sells for £1.75m

Real estate fund Lothbury Property Trust, managed by London-based Lothbury Investment Management, has sold the grade two-listed, mixed-use building on Eastgate Street to a group of local investors.

The four-storey building, located within Chester’s historic Grosvenor Precinct, generates £211,620 a year in rent.

It features two retail units totalling 3,000 sq ft on the ground and first floor, occupied by clothes retailer Hobbs.

The second and third floors feature a pair of two-bedroom flats and two one-bedroom flats.

Ed Hockley, director at Lothbury Investment Management, said: “The sale of this property, which is located in a desirable high street retail investment location, provides us with a good opportunity to rebalance the portfolio.”

Lothbury was advised by agency King Street Commercial. The purchasers were advised by consultancy Mason Owen.

Lothbury Property Trust, Lothbury’s flagship fund, holds £1.64bn assets under management.

Your Comments

Read our comments policy

Related Articles

Sign up to receive the Place Daily Briefing

Join more than 12,000 property professionals and receive your free daily round-up of built environment news direct to your inbox

Subscribe

Join more than 12,000 property professionals and sign up to receive your free daily round-up of built environment news direct to your inbox.

By subscribing, you are agreeing to our Terms & Conditions and Privacy Policy

Name*
Would you also like to receive our free PlaceTech Weekly newsletter, covering innovation in property?*