54-56 Barbourne Road, Worcester, WR1 1JA
Freehold Fully Let Mixed Use Investment For Sale
- 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
LocationThe 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.
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.
AccommodationGround 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
The apartments have plenty of character, featuring sash windows, high ceilings and unique floorplans.
PriceOffers over £575,000 are sought for the freehold interest.
TenancyGround 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