54-56 Barbourne Road, Worcester, WR1 1JA

Freehold Fully Let Mixed Use Investment For Sale

Property details

Type Investment, Retail
Price Offers over £575,000
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Features
  • Fully-let mixed use investment for sale
  • Prominent position on the busy Barbourne Road
  • Retail unit let to Jacksons Family Funeral Directors
  • Passing rent - £39,660 per annum
  • Freehold - offers over £575,000
Location
The property boasts a prominent position on the main road just north of Worcester town centre, Barbourne Road. Less than a mile from Worcester Foregate Station and the town centre, Barbourne is a popular residential area. Other nearby tenants include Sainsburys Local and Kwik Fit, as well as a number of other reputable local businesses.
Description

Comprising ground floor retail unit and four apartments above, jointly producing £39,660 pa. The double-fronted retail unit is currently producing £19,260 pa with 2 years unexpired. Jacksons Family Funeral Directors have occupied this unit since 2018 and have been in business since that same year. They have verbally agreed to renew the lease until 2023 and the terms are to be drawn up. Further 4 self-contained apartments above producing £20,400 pa, with long-standing and professional tenants.

Accommodation
Ground floor retail unit - 1,431 sq ft
Measuring 681 sq ft in immediate retail space with further 750 sq ft in office and storage space

x4 Apartments
The apartments have plenty of character, featuring sash windows, high ceilings and unique floorplans.
Price
Offers over £575,000 are sought for the freehold interest.
Tenancy
Ground floor commercial unit has been leased to Jacksons Family Funeral Directors for a term of 5 years from 2018 and expiring in 2023. The passing rent is £19,260.

Apartment 1 - £450 pcm / £5,400 pa (in situ until May 2023)
Apartment 2 - £450 pcm / £5,400 pa (in situ until May 2023)
Apartment 3 - £400 pcm / £4,800 pa (in situ until May 2023)
Apartment 4 - £400 pcm / £4,800 pa (in situ until May 2023)
Total income from residential apartments: £20,400 pa

Total income combined from commercial and residential: £39,660
VAT
We are advised that VAT will not applicable on this transaction.
EPC
Available upon request.
Legal Costs
Each party is to be responsible for their own legal costs 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.