2 The Cross, Worcester, Worcestershire, WR1 3PT

For Sale by private treaty.

Prime City Centre Development - Benefiting from Existing Rental Income

The property is an attractive four storey Grade II listed building extending to approximately 6,537 sq.ft, offered freehold with the benefit of income in place.
The ground floor and basement, totalling 3,329 sq.ft, are let to Skipton Building Society at a current rent of £27,000 per annum, with a boardroom situated on the first floor.
The upper floors are accessed via a side entrance and comprise a mix of office accommodation including multiple individual offices, two small kitchens, and male and female WCs on two of the floors.
The first, second, and third floors are currently unoccupied and ready for immediate development, refurbishment, or re-letting as offices.
Internally, the building retains a wealth of original character, including striking stained glass windows, period fireplaces, and an oak staircase, features which lend themselves well to a high quality residential conversion.

Accommodation
Please kindly see enclosed our detailed brochure.

Location
2 The Cross occupies a prominent position in the heart of Worcester city centre, at the junction of The Cross and Broad Street.
The property benefits from excellent footfall and visibility, surrounded by a strong mix of national retailers, independent businesses, and professional occupiers.
Worcester city centre offers a wide range of amenities, with the Cathedral, riverside, and Crowngate Shopping Centre all within easy walking distance.
The city benefits from strong transport links, with Worcester Foregate Street and Worcester Shrub Hill stations providing regular services to Birmingham, Bristol, and London, and the M5 motorway accessible nearby via the A4440 Southern Link Road.

Tenure
Freehold

Planning
The property benefits from full planning permission granted by Worcester City Council (ref. 23/00984/FUL) for the conversion of the upper floors into 7 one bedroom apartments, while retaining the ground floor frontage as a purely commercial unit.
This arrangement allows Skipton Building Society's existing occupation to continue uninterrupted on the ground floor and basement, while the remainder of the building is converted into residential accommodation.
The scheme presents an excellent opportunity for developers or investors seeking a part-income producing, part-development proposition in a strong central Worcester location.

VAT
We are advised that VAT is applicable.

Proposal
Offers based on: £635,000 are sought for the freehold interest.

Services
We have been informed that all mains' services are connected to the site, but prospective purchasers should still make their own independent enquiries as to the suitability of the services for their particular requirement.

Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering
Under HMRC and RICS regulations in addition to the Criminal Finances Act 2017, as property agents facilitating transactions, we are obliged to undertake anti money laundering due diligence for both the vendors (our client) and the purchasers involved in a transaction. As such, personal and or detailed financial and corporate information will be required before an offer can be accepted and a transaction can commence.