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
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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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

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

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

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.