52 Friar Street, Worcester, Worcestershire, WR1 2NA

FOR SALE BY AUCTION ON 15TH SEPTEMBER 2022 - Mixed Use Investment Opportunity in Worcester

Property details

Type Investment, Leisure / Mixed Use
Tenure Freehold – Subject to the existing tenancies.
Price Guide price - £145,000+
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Features
  • Prominent position
  • Mid-terraced property with ground floor retail unit and a separate self contained apartment
  • Currently producing £12,600, rising to £13,350 pa
  • Guide price - £145,000+
Location
The property occupies a prominent trading position within Worcester, being amongst a number of high-quality fashion operators and hair salons. It is located adjacent to Chung Ying Garden Restaurant, opposite to Perfections Bridal Studio and close to You Beauty, Twenty-Five Boutique, Sarah Naomi Classic Hair Designs, Mac and Jac’s Deli Café, Emporio Clothing, Institute Furniture and Pockets Menswear. Worcester is a Cathedral City with a population of just over 100,000 on the banks of the River Severn. Worcester is readily accessible by road, rail and air. Junctions 6 and 7 of the M5 provide easy access to the motorway network and Birmingham airport whilst the city has two railway stations, Foregate Street and Shrub Hill.
Description

The property comprises a mid-terraced property with a ground floor retail unit, and a separate self-contained apartment on the first and second floors.

Accommodation
Retail: 181 sq. t. (16.78 sq.m.)
First Floor Apartment: Kitchen, Reception Room.
Second Floor: Bedroom, Office and Bathroom.
We are informed that the apartment extends to 493 sq.ft. (45.82 sq.m.) or thereabouts.
Tenancy
Ground Floor: Let to Beauty Parlour 91 Limited for a term of 5 years from 1/7/2022, at a passing rent of £6,000 per annum. The rent increases to £6,250 per annum in year 2, £6,500 per annum in year 3, and £6,750 per annum in years 4 and 5. Flat: Let on an Assured Shorthold Tenancy, at a rental of £550 per calendar month.