12 Reindeer Court, Mealcheapen Street, Worcester, Worcestershire, WR1

Investment Consideration:
Gross Initial Yield: 6.86%
Rental Income: £12,000 p.a.
VAT is applicable to this property
Comprises two-storey retail unit, t/a dog clothing shop
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.

Property Description:
The property comprises two-storey retail unit t/a Dog Clothing Shop and provides the following accommodation and dimensions:
Ground Floor: 105 sq m (1,132 sq ft)
Open Plan Retail, Storage
First Floor: 81 sq m (868 sq ft)
Ancillary, WC
Total NIA: 186 sq m (2,000 sq ft)

Tenancy:
The property is at present let to Hugo and Ted Ltd t/a Dog Clothing Shop for a term of 6 Years from 7th September 2022 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Rent review linked to RPI on 07.09.25. Tenant option to determine on 07.09.23 and 07.09.25 with min 1 month notice. Lease within Landlord & Tenant Act 1954.

Location:
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.