22a & 23 The Cross, Worcester, Worcestershire, WR1
£309.38 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
3,200 sq ft
297 sq m
- SECTOR
High street retail property for sale
- USE CLASSUse class orders: Class E
E
Key features
- Excellent location in Worcester's main shopping district
- Ground floor let to Mercer Slots until September 2036
- First floor office let to Woober Ltd until March 2027.
- Total Income £67,000 pa
- The property is elected for VAT.
Description
The property is situated on the West side of The Cross, close to the junction with Angel Street in Worcester City's main shopping district.
The property is in a very busy location with strong footfall and benefits from strong transport links, with Foregate Street Train Station 5 minutes walk to the north. There are also many bus stops situated nearby.
The Cross is home to many national operators such as TK Maxx, Marks & Spencer, Starbucks and L'Occitane.
Tenancies:
The Ground Floor is let ot Merkur Slots UK ltd for 15 years expiring September 2036, on FRI terms at £60,000 pa. The lease has tenant only break options on the 5th and 10th anniversaries of the term.
The First Floor is let to Woober Ltd for a term of 5 years expiring March 27. Current rent £7,000 pa, rising to £7,500 pa March 2024 and £8,000 pa March 2026. The lease has a tenant only break option on the 3rd anniversary of the term.
Description:
The property consist of a ground floor retail unit with an NIA of c.2, 240 sq ft (208 sqm). The first floor is a self- contained office suite, with separate access from street level. The office extends to c. 970 sq ft (90 sqm).
Leases:
Copies of the leases are available on request.
VAT:
The property is elected for VAT.
Energy Performance Certificate:
The property has an EPC Rating of D.
Certificate available upon request.
Business Rates:
Ground Floor has a rateable value of £27,000.
First floor has a rateable value of £9,400
Proposal:
We are instructed to offer the property for sale at a guide price of £990,000 to show a net initial yield of of 6.42%. Subject to Contract.
Brochures
22a & 23 The Cross, Worcester, Worcestershire, WR1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Worcester Foregate Street Station0.1 miles
- Worcester Shrub Hill Station0.5 miles
- Worcestershire Parkway Station3.7 miles
About BWP Commercial Property, Home Counties
12A Hart Street, Henley-on-Thames, Oxfordshire, RG9 1QE
Notes
Disclaimer - Property reference Thecross. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by BWP Commercial Property, Home Counties. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.