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Agent's details

Worcester - Freehold Retail Investment

For sale: £145,000.00|1,094 Sq Ft|General Retail, Retail - High Street, Shopping Centre Unit, Retail

Property details

FOR SALE£145,000.00
SIZE1,094 Sq Ft
ADDRESSReindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 2DS
TYPEGeneral Retail, Retail - High Street, Shopping Centre Unit, Retail
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON23rd December 2021

Description

Investment Consideration:
Gross Initial Yield: 6.90%
Rental Income: £10,000 p.a.
VAT is applicable to this property
Comprises Grade II Listed two-storey retail unit, t/a beauty salon
Total area size of 101.60 sq m (1,094 sq ft)
Located inside Reindeer Court between The Shambles and New Street, which is home to retailers such as JD Sports, M&S, Greggs, Café Nero, Vodafone, TK Maxx and more.

Property Description:
The property comprises Grade II Listed two-storey retail unit t/a beauty salon and provides the following accommodation and dimensions:

Ground Floor: 52.30 sq m (563 sq ft)
Open Plan Retail
First Floor: 49.30 sq m (531 sq ft)
Ancillar
Total NIA: 101.60 sq m (1,094 sq ft)

Tenancy:
The property is at present let to Divine Beauty Salon Limited for a term of 5 years from 25th October 2021 at a current rent of £10,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Deposit held of £6,000.

Tenure:
Long leasehold. Held on a 999 Year lease from 1st January 2021 at a ground rent of peppercorn.

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.

Location

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Location: Reindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 2DS

Worcester Foregate Street (0.2 miles)

Worcester Shrub Hill (0.4 miles)

Droitwich Spa (5.8 miles)

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