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Mealcheapen St
Worcester WR1 2DS
Reindeer Court Shopping Centre · Retail Property For Sale · 87,888 SF
Investment Highlights
- Other retailers cloeby include TK Maxx and Cafe Nero
- Easily accessible location
Executive Summary
Worcester is a city in central England’s West Midlands region. The city is a major retail centre, with several covered shopping centres to accommodate the major chains and many independent shops and restaurants, particularly in Friar Street and New Street. The M5 Motorway runs north–south immediately to the east of the city. It is accessed by Junction 6 (Worcester North) and Junction 7 (Worcester South). Worcester has thre stations. Worcester Foregate Street and Worcester Shrub Hill are in the city centre. A third station on the edge of the city, Worcestershire Parkway opened in 2020. The property is located within 0.3 miles from Worcester Foregate Street train station. Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more
PROPERTY FACTS
| Unit Size | 375 - 2,000 SF | Building Class | B |
| No. Units | 3 | Floors | 3 |
| Total Building Size | 87,888 SF | Typical Floor Size | 26,252 SF |
| Property Type | Retail | Year Built | 1991 |
| Property Subtype | Storefront | Lot Size | 0.69 AC |
| Unit Size | 375 - 2,000 SF |
| No. Units | 3 |
| Total Building Size | 87,888 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 26,252 SF |
| Year Built | 1991 |
| Lot Size | 0.69 AC |
3 Units Available
Unit 22A
| Unit Size | 377 SF | Tenure | Freehold |
| Condo Use | Retail | Cap Rate | 6.79% |
| Sale Type | Investment | NOI | $11,358.90 |
| Unit Size | 377 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.79% |
| NOI | $11,358.90 |
Description
Ground Floor: 35 sq m (377 sq ft)
Open Plan Retail, Storage, WC
Sale Notes
The property is at present let to Camo Hair Limited t/a Barbers for a term of 7 Years from 27th July 2018 at a current rent of £9,000 per annum and the lease contains full repairing and insuring covenants. Lease within Landlord & Tenant Act 1954.
Unit 12
| Unit Size | 2,000 SF | Tenure | Freehold |
| Condo Use | Retail | Cap Rate | 6.86% |
| Sale Type | Investment | NOI | $15,145.20 |
| Unit Size | 2,000 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.86% |
| NOI | $15,145.20 |
Description
Ground Floor: 105 sq m (1,132 sq ft)
Open Plan Retail, Storage
First Floor: 81 sq m (868 sq ft)
Ancillary, WC
Sale Notes
The property is at present let to Hugo and Ted Ltd t/a Dog Clothing Shop for a term of 6 Years from 7th September 2022 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. Rent review linked to RPI on 07.09.25. Tenant option to determine on 07.09.23 and 07.09.25 with min 1 month notice. Lease within Landlord & Tenant Act 1954.
Unit 29
| Unit Size | 375 SF | Tenure | Freehold |
| Condo Use | Retail | Cap Rate | 6.36% |
| Sale Type | Investment | NOI | $8,834.70 |
| Unit Size | 375 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.36% |
| NOI | $8,834.70 |
Description
Ground Floor: 35 sq m (375 sq ft)
Open Plan Retail, Storage, WC
Sale Notes
The property is at present let to an Individual for a term of 10 Years from 14th June 2024 at a current rent of £7,000 p.a. Rent review every 3rd year open market upward only. Tenant option to determine on 3rd and 6th anniversary with min 6 months notice. Deposit held of £1,750. Lease within Landlord & Tenant Act 1954
Amenities
- Storage Space
Learn More About Investing in Retail Properties
