68 Broad Street Worcester Worcestershire WR1 3LY

68 Broad Street
Worcester
Worcestershire
WR1 3LY

Freehold Retail Investment

  • Entirely let to Stonebeach Limited /a Patisserie Valerie
  • New 10 year lease from November 2014 (No breaks)
  • Pedestrianised City Centre location
  • Close to Crowngate Shopping Centre and junction of High Street and The Cross
  • Nearby occupiers include House of Fraser, Debenhams, TK Maxx, Boots the Chemist, WH Smith, Caffè Nero, HSBC and Laura Ashley
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    5
  • Auction
    12th February 2015
  • Rent
    £45,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £655,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Retail Investment

  • Entirely let to Stonebeach Limited /a Patisserie Valerie
  • New 10 year lease from November 2014 (No breaks)
  • Pedestrianised City Centre location
  • Close to Crowngate Shopping Centre and junction of High Street and The Cross
  • Nearby occupiers include House of Fraser, Debenhams, TK Maxx, Boots the Chemist, WH Smith, Caffè Nero, HSBC and Laura Ashley
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 5
  • Auction 12th February 2015
  • Rent
  • Status Sold
  • Price £655,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
24 miles north of Cheltenham
26 miles south-west of Birmingham
34 miles south-west of Royal Leamington Spa
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation

The property is prominently situated in the heart of Worcester City Centre on the south side of the pedestrianised Broad Street, close to its junction with The Cross and High Street. The property is located close to The Crowngate Shopping Centre housing retailers such as House of Fraser, Boots the Chemist and Debenhams.
Other nearby occupiers include WH Smith, Specsavers, Caffè Nero, Laura Ashley, New Look, Halifax and HSBC banks.

Tenure

Freehold.

Location
Miles
24 miles north of Cheltenham
26 miles south-west of Birmingham
34 miles south-west of Royal Leamington Spa
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation

The property is prominently situated in the heart of Worcester City Centre on the south side of the pedestrianised Broad Street, close to its junction with The Cross and High Street. The property is located close to The Crowngate Shopping Centre housing retailers such as House of Fraser, Boots the Chemist and Debenhams.
Other nearby occupiers include WH Smith, Specsavers, Caffè Nero, Laura Ashley, New Look, Halifax and HSBC banks.

Tenure

Freehold.

Description

The property comprises a ground floor retail/coffee shop accommodation with ancillary accommodation in the basement, first and second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor retail/coffee shop accommodation with ancillary accommodation in the basement, first and second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review
Basement
Ground
First
Second
Ancillary
Retail/Ancillary
Ancillary
Ancillary
56.00 sq m
115.00 sq m
47.00 sq m
51.00 sq m
(603 sq ft)
(1,238 sq ft)
(506 sq ft)
(549 sq ft)
STONEBEACH LIMITED t/a Patisserie Valerie (1) 10 years from 17/11/2014 until 2024 on a full repairing and insuring lease £45,000 (2) (3) 17/11/2019
Totals  
269.00 sq m
(2,896 sq ft)
    £45,000  

(1) Patisserie Valerie first opened in London’s Soho in 1926 and now trade from almost 100 branches. (www.patisserie-valerie.co.uk)
For the year ending 30/09/2013, Stonebeach Limited reported a turnover of £58,543,922, pre-tax profits of £9,000,661 and a total net worth of £25,101,130. (Source: www.riskdisk.com 14/01/2015)
(2)The tenant is currently benefitting from a rent free period expiring on 17th September 2015. The seller has agreed to adjust the completion monies so that the property will produce £45,000 p.a.x from completion of the sale.
(3)The lease provides for a further 3 month rent free period from 17th September 2019.

Property Documents

  • Catalogue Page
    Updated Date
    21.01.15
    File Size
    619 KB
    View PDF
  • Site Plan
    Updated Date
    21.01.15
    File Size
    106 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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