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.