Retail Property (high street) for sale63-65 Sidbury, Worcester, Worcestershire, WR1 2HU
731 sq. ft. | £180,000
- 731 sq ft (67 sq m)
- Use class orders: A1 Shops
- Freehold Retail Investment Opportunity
- Prominent location in Worcester Town Centre
- Comprises two retail units (1 currently let)
- Passing rent - £8,790 per annum with excellent scope to increase
- Unexpired term of 15 years with no break clause
- NIY of 4.78% allowing for purchasers costs of 2.13%, rising to 8.96% once fully let
The property comprises the freehold interest in a pair of prominently located retail shops in Worcester City Centre and the ground rents for two flats above. One of the retail units is currently occupied by Vision Hair Salon on a 20 year lease expiring on 01/11/2031. The adjacent unit is currently vacant and provides an ideal opportunity to generate an additional rental income of approximately £7,500 pax, thus producing a total income of £16,290 pax
The property is located in a prominent position fronting Sidbury Street in Worcester Town Centre. Worcester is situated 17 miles southwest of the southern suburbs of Birmingham and has an approximate population of 100,000. Junction 7 of the M5 is approximately 2 miles north east providing excellent road links to the South East of England and the North via the M6.
The property lies approximately 200 yards from the high street with an array of notable nearby occupiers including Nandos, Pizza Express, Vue Cinemas, Marks & Spencer's, Next and H&M. Furthermore the property is within walking distance of Worcester Forgate Street and Worcester Shrug Hill Station, providing excellent national and local rail links.
The current income totals £8,790 per annum, representing a Net Initial Yield of 4.78% after deducting purchasers costs of 2.13%, rising to 8.96% once fully let. For further information see attached details.
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.
More information from this agent
To view this media, please visit the on-line version of this page at www.rightmove.co.uk/commercial-property-for-sale/property-59187947.html?premiumA=true
Map & Street View
Street View is unavailable in this location
Disclaimer - Property reference 63-65_Sidbury_Street_Worcester. 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 Bond Wolfe, West Bromwich. 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.