Lothbury Eastgate Street Chester
Lothbury bought the four-storey building in 2013

Chester’s Hobbs building sells for £1.75m

Dan Whelan

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.

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To the uninitiated, Chester is self sufficient, and not part of another`s city region.

By Deva Victrix