Acquired
Worcester – Retail Shop
19 Reindeer Court, Worcester, Worcestershire WR1 2DSVirtual Freehold Retail Investment
Tenure
Leasehold
Lease Term
5 Years
Years Left on Lease
1y 11m
Area
1,094 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises Grade II Listed two-storey retail unit, t/a beauty salon
- 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
Leasehold
VAT
VAT is Applicable
Property Description
The property comprises Grade II Listed two-storey retail unit t/a beauty salon and provides the following accommodation and dimensions:
Ground Floor: Retail 52.30 sq m (563 sq ft)
First Floor: Ancillary 49.30 sq m (531 sq ft)
Total NIA: 101.60 sq m (1,094 sq ft)
Ground Floor: Retail 52.30 sq m (563 sq ft)
First Floor: Ancillary 49.30 sq m (531 sq ft)
Total NIA: 101.60 sq m (1,094 sq ft)
Tenancy Description
The property is at present let to Divine Beauty Salon Limited for a term of 5 years from 25th October 2021 at a current rent of £10,000 per annum and the lease contains full repairing and insuring covenants. No break clause. Deposit held of £6,000.
Tenure:
Long leasehold. Held on a 999 Year lease from 1st January 2021 at a ground rent of peppercorn.
Tenure:
Long leasehold. Held on a 999 Year lease from 1st January 2021 at a ground rent of peppercorn.
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.
