Available
Worcester – Retail Shop
29 Reindeer Court, Worcester, Worcestershire WR1 2DSFreehold Retail Investment
Price
£110,000
Rent P.A.
£7,000
Yield
6.36%
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
9y 5m
Area
375 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises two-storey retail unit
- 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.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises two-storey retail unit and provides the following accommodation and dimensions:
Ground Floor: Retail 20.60 sq m (222 sq ft)
First Floor: Ancillary 14.20 sq m (153 sq ft)
Ground Floor: Retail 20.60 sq m (222 sq ft)
First Floor: Ancillary 14.20 sq m (153 sq ft)
Tenancy Description
The property is at present let to an Individual for a term of 10 Years from 14th June 2024 at a current rent of £7,000 p.a. Rent review every 3rd year open market upward only. Tenant option to determine on 3rd and 6th anniversary with min 6 months notice. Deposit held of £1,750. Lease within Landlord & Tenant Act 1954
Tenancies & Accommodation
Location Description
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.
