Acquired
Worcester – Retail Shop
11 Reindeer Court, Worcester, Worcestershire WR1 2DSFreehold Retail Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
Holding Over
Area
1,753 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises two-storey retail unit, t/a clothing shop
- Located inside Reindeer Court between The Shambles and New Street, which is home to retailers such as JD Sports, M&S, Greggs, Caffè Nero, Vodafone, TK Maxx and more.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises two-storey retail unit t/a clothing shop and provides the following accommodation and dimensions:
Ground Floor: RetailRetail 78.10 sq m (841 sq ft)
First Floor: Ancillary 84.70 sq m (912 sq ft)
Total NIA: 162.80 sq m (1,753 sq ft)
Ground Floor: RetailRetail 78.10 sq m (841 sq ft)
First Floor: Ancillary 84.70 sq m (912 sq ft)
Total NIA: 162.80 sq m (1,753 sq ft)
Tenancy Description
The property is at present let to an Individuals t/a Fuel Clothing for a term of 5 years from 1st June 2019 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Break clause in 2021 not exercised. Deposit held of 3,600.
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.
