The property comprises of a mid terrace, three storey building with basement. It is Grade II listed with a pitched roof over part and flat roof over the single story element at the rear. The ground floor provides retail space currently fitted by OFFICE shoes with display lighting, painted plastered walls and tiled floor covering. The shop front is fully glazed, and the unit is air conditioned. To the rear there is a small office and staff W.C. The basement, first and second floors are used as storage.
There is a small yard area to the rear of the property leading to a service passage which is part of the Crowngate Shopping Centre. The air condenser is located in this yard.
( Agency Pilot Software ref: 53009 )
Location
Worcester is a historic cathedral city, situated in Worcestershire. It serves as the central primary employment hub for the county. It occupies a strategic geographical position located around 40 km (24.6 miles) southwest of Birmingham, 125 km (77 miles) north of Bristol, and 160 km (100 miles) northwest of Central London.
Accommodation
3,380 sq ft
Terms
EPC An Energy Performance Certificate is available upon request.
Anti-Money Laundering In order to comply with Anti-Money Laundering legislation, the successful purchaser will be required to provide certain identification documents. The required documents will be confirmed to and requested from the successful purchaser at the relevant time
VAT We understand that the property is elected for VAT. It is anticipated that the sale will be treated as a transfer of a going concern (TOGC).
Proposal We are instructed to seek offers of £585,000 (Five Hundred EightyFive Thousand Pounds) subject to contract and exclusive of VAT, for our client’s freehold interest in the property. A purchase at this level will reflect a net initial yield of 7.5% assuming standard purchaser’s costs
Specification
- Worcester is an affluent historic cathedral city serving as the primary employment hub for Worcestershire.
- Worcester retains over 80% of spend within its primary catchment population of 298,000.
- The property occupies a prime position on the pedestrianised Worcester High Street, comprising of 3,380 sq ft over basement, ground, first and second floors.
- The property is let entirely to the well established Office Holdings Limited until 9th September 2028 with a tenant only break 9th September 2026.
- Total rents are reserved of £46,000 per annum exclusive.
- Freehold.