18-19 Worcester Street, Kidderminster, DY10 1ED
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Commercial property for sale
Key features
- Freehold town centre retail investment opportunity fully let on new leases.
- Producing £16,500 per annum, rising to £18,500 per annum.
- Town centre location close to Rowland Hill shopping centre.
- 4,417 sq. ft. ( 410.50 sq m) over ground and first floors.
- Offers in excess of £195,000 are sought for the freehold interest. A purchase at this level would represent a net inital yield of 8.27% and a reversionary yield of 9.28%
Description
Offers In Excess Of £195,000
Freehold Town Centre Investment Opportunity
The property, which extends in total to 4,417 sq.ft. (410.50 sq.m.), comprises a ground floor shop and a separate first floor retail unit, currently utilised as a dance studio.
Accommodation
Ground Floor: Extending to 2,214 sq. ft. ( 205.76 sq m) comprising open plan sales area, rear ancillary space, office and staff room with WC's.
First Floor: Extending to 2,203 sq ft ( 204.73 sq m) comprising an open floor dance studio with ancillary & wc facilities.
Location
The shop is located in a prominent secondary trading position, being close to the entrance to Rowland Hill Shopping Centre with other nearby occupiers being Vibe, Teaching Music Academy, Max Spielmann, Santander and Poundland.
Tenure
Freehold.
Tenancy
Ground Floor: Let to KB Corporation Ltd (trading as Fitter Body Ladies Kidderminster) for a term of 5 years from 7/5/2024 with an option to determines at the 3rd anniversary. The passing rent is £10,000 per annum, which will increase to £12,000 per annum for years 4 & 5.
First Floor: Let to Chloe Evans (trading as Chloe May's Dance Academy) on renewed lease for a term of 5 years from 23/4/2024 with an option to determines at the 3rd anniversary. The passing rent is £6,500 per annum.
Total Income - £16,500 per annum, increasing to £18,500 per annum.
VAT
We are advised that VAT does not apply in this instance, however, prospective purchasers should satisfy themselves in this regard.
EPC
Available on request.
Legal Costs
Each party are to responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
18-19 Worcester Street, Kidderminster, DY10 1ED
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Kidderminster Station0.4 miles
- Blakedown Station3.3 miles
- Hartlebury Station3.8 miles
About Bond Wolfe, Commercial Sales
1st Floor 75-77 Colmore Row Birmingham B3 2AP
Bond Wolfe is a multi-disciplined property business specialising in property Auctions and property Agency with our head office based in Birmingham. Many of our highly experienced and dedicated team have been with the business for over 30 years.
We are truly proud of our Midlands roots and honoured to have represented the region since 1983. We also act for many clients across the UK and overseas too. Bond Wolfe has a great track record of selling, letting and managing property up and dow
Notes
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