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The sale of this investment offers the opportunity to acquire an investment as a company purchase which offers significant tax advantages for purchasers further details are available from the selling agents. The company has been within a single family ownership for approximately 60 years. The owners have maintained near full occupancy by ensuring the property is well maintained and offering the smaller accommodation within the Pershore Market on 'easy in easy out' licences at competitive rental levels. The investment opportunity provides a balanced mix of income from commercial and residential uses. A significant number of the tenants are long standing occupiers. The gross income is summarised below. Full details are available on application from the selling agents, who can provide a full tenancy schedule by providing access to the Data Room.
The investment comprises of a significant town centre property holding totalling approximately 2.33 acres (0.942 ha), which is situated immediately adjoining Asda supermarket, the town's only supermarket and in turn providing the central focal point alongside the subject market for the town.
The Pershore Retail Market itself comprises, a long-standing and popular retail market, which consists of a recently refurbished detached building, which internally is fitted out with a series of permanent independent market stalls.
There is surrounding this building a number of single storey and two storey buildings offering a range of office, storage, retails and residential units. The property benefits from 104 customer car spaces within the site.
Fronting the High Street is a row of traditional retail units with predominantly self contained residential accommodation above.
The property also includes a single storey car workshop and separate car wash bay.
The full extensive nature of the investment opportunity can only be appreciated via undertaking an inspection of the property.
* Mixed use investment with a potential total income of £110,820 per annum exclusive. * Prominent property finished to a high standard and of contemporary design. * Generous parking allocation adjacent to the property and in an overflow car park. * The quoting price of £1,500,000 reflects a gross initial yield of approximately 7.39% or net initial yield of 6.96% after purchaser’s costs of 6.10% assuming full occupancy.
The property comprises of a variety of units offering space for a range of uses including Retail, Offices and Leisure.
The property comprises two buildings of contemporary design that have been interlinked and are of steel frame construction with a combination of clad and rendered block elevations. Both have a pitched profile metal clad roof.
Internally the property has been finished to a high specification throughout using quality fixtures and fittings and materials. The units have a combination of carpet, tiled and wooden floor coverings reflecting the range of uses within the building and each tenant’s requirements. The walls are a combination of paint plaster, timber cladding and brickwork and lit with a range of light fittings.
The majority of the units are accessed via the main entrance/plaza area, with a number fronting the A46 and on the lower ground floor benefiting from their own entrances. One of the units on the ground floor has a roller shutter door.
There are generous parking areas to the front and both sides of the building and there is an overflow car park a short distance from the property.
STROUD: NAILSWORTH - FORMER TRADE PLACE PREMISES
Type: Retail, Offices, Mixed use, Leisure, General Retail, Retail - Out of Town, Office, Other Property Types & Opportunities