The building comprises two storeys plus a basement. Incorporating open plan retail space on the ground and basement floors. The upper floor provides kitchen/staff/storage space and a WC. Currently operating as a noodle bar it would also suit a number of alternative commercial uses.
Key Features1. City Centre Location
2. Investment Opportunity
3. Passing Rent £15,600pa
4. Net Initial Yield 8.03%
5. 45m2 (488sq ft) NIA
LocationThe property site in a prominent position on Pump Street which is in the pedestrianised city centre of Worcester.
It is just off of the High Street and in close proximity to a number of national covenant retailers including Hotel Chocolat, Coffee #1, Jack Wills, Fat Face and Specsavers.
Investment SummaryThe tenants are holding over on an informal tenancy at a rent equating to £15,600pa. A sale at the asking price would equate to a net initial yield of 8.03% assuming normal purchasers costs.
AccommodationBasement 13.89m² (150ft²)
Ground Floor 17.58m² (189ft²)
First Floor 13.85m² (117ft²)
Total NIA 45.32m2 (488ft²)
Legal Costs and VATEach party will be responsible for their own legal costs associated with the preparation of the lease.
The property is not elected for VAT.
Business RatesRateable Value £7,200
ViewingsTo discuss the property or to arrange a viewing please contact the commercial Team on 01386 765700 or firstname.lastname@example.org
Important NotesWe are required by HMRC to conduct anti-money laundering checks on all parties with an interest in the property and accordingly we will require forms of identification in due course.
These Particulars do not constitute an offer or contract and should not be relied upon as being factually accurate, the photographs show only part of the property and the areas, measurements and distances given are approximately only. A buyer or a lessee must make their own enquiries or inspections and should not solely rely on these Particulars or other statements by Sheldon Bosley Knight.
The VAT position relating to the property may change without notice.