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Worcester - Freehold Retail Investment

For sale: £95,000.00|375 Sq Ft|General Retail, Retail - High Street, Shopping Centre Unit, Retail

Property details

FOR SALE£95,000.00
SIZE375 Sq Ft
ADDRESSReindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1 2DS
TYPEGeneral Retail, Retail - High Street, Shopping Centre Unit, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON23rd December 2021

Description

Investment Consideration:
Gross Initial Yield: 5.79%
Rental Income: £5,500 p.a.
VAT is applicable to this property
Comprises two-storey retail unit, t/a sandwich shop
Total area size of 34.80 sq m (375 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 two-storey retail unit t/a sandwich shop and provides the following accommodation and dimensions:
Ground Floor: 20.60 sq m (222 sq ft)
Open Plan Retail, WC
First Floor: 14.20 sq m (153 sq ft)
Ancillary

Tenancy:
The property is at present let to Neighbourhood Deli Ltd for a term of 5 years from 11th October 2019 at a current rent of £5,500 per annum and the lease contains full repairing and insuring covenants. Tenant option to determine on 10.10.2022 with minimum 6 months notice. Deposit held of £1,650.

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

marker
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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