An opportunity to invest in this tenanted lock up commercial premises just of Worcester's High Street.
The building comprises two storeys plus a basement. Incorporating open plan retail space on the ground and basement floors. The upper floor provides kitchen/staff/storage space and a WC. Currently operating as a noodle bar it would also suit a number of alternative commercial uses.
Location
The property site in a prominent position on Pump Street which is in the pedestrianised city centre of Worcester.
It is just off of the High Street and in close proximity to a number of national covenant retailers including Hotel Chocolat, Coffee #1, Jack Wills, Fat Face and Specsavers.
Accommodation
Basement - 13.89m² (150ft²)
Ground Floor - 17.58m² (189ft²)
First Floor - 13.85m² (117ft²)
Total NIA - 45.32m2 (488ft²)
Terms
Price - £189,950
Investment Summary - The tenants are holding over on an informal tenancy at a rent equating to £15,600pa. A sale at the asking price would equate to a net initial yield of 8.03% assuming normal purchasers costs.
Legal Costs and VAT - Each party will be responsible for their own legal costs associated with the preparation of the lease.
The property is not elected for VAT.
Business Rates - Rateable Value £7,200
Specification
- City Centre Location
- Investment Opportunity
- Passing Rent £15,600pa
- Net Initial Yield 8.03%
- 45m2 (488sq ft) NIA