Investment Consideration:
Gross Initial Yield: 7.69%
Rental Income: £25,000 p.a.
VAT is applicable to this property
Comprises ground floor shop with ancillary accommodation above
Total area size of 135 sq m (1,455 sq ft)
Tenant in occupation since 2005
Located within 0.3 miles from Worcester Foregate Street train station
Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more.
Property Description:
Comprises ground floor shop with office accommodation at first floor and storage at second floor.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 27.6 sq m (297 sq ft)
First Floor: Office 56.4 sq m (607 sq ft)
Second Floor: Storage 51.2 sq m (551 sq ft)
Total area size: 135.2 sq m (1,455 sq ft)
Tenancy:
The property is at present let to Ian Quartermaine (Jeweller and Goldsmith) Limited for a term of 10 years from 29th September 2014 at a current rent of £25,000 per annum and the lease contains full repairing and insuring covenants.
Location:
Worcester is a city in central England’s West Midlands region. The city is a major retail centre, with several covered shopping centres to accommodate the major chains and many independent shops and restaurants, particularly in Friar Street and New Street. The M5 Motorway runs north–south immediately to the east of the city. It is accessed by Junction 6 (Worcester North) and Junction 7 (Worcester South). Worcester has three stations. Worcester Foregate Street and Worcester Shrub Hill are in the city centre. A third station on the edge of the city, Worcestershire Parkway opened in 2020. The property is located within 0.3 miles from Worcester Foregate Street train station. Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more.
