Prospect House 25, 26 & 27 Worcester Street Kidderminster DY10 1ED

  • Prospect House<br>25, 26 & 27 Worcester Street<br>Kidderminster<br>DY10 1ED

Prospect House
25, 26 & 27 Worcester Street
Kidderminster
DY10 1ED

Town Centre Retail and Office Investment

  • Retail units with office accommodation on substantial site
  • Prominent position on busy retailing thoroughfare close to The Rowland Hill Shopping Centre
  • Asset management/development opportunity (subject to consents)
  • Nearby occupiers include RBS, Peacocks, and Poundland
  • Rent of £22,500 p.a.x gross, £4,000 p.a.x net (with 8,872 sq ft offered with Vacant Possession)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    92
  • Auction
    7th July 2016
  • Rent
    £22,500 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
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Town Centre Retail and Office Investment

  • Retail units with office accommodation on substantial site
  • Prominent position on busy retailing thoroughfare close to The Rowland Hill Shopping Centre
  • Asset management/development opportunity (subject to consents)
  • Nearby occupiers include RBS, Peacocks, and Poundland
  • Rent of £22,500 p.a.x gross, £4,000 p.a.x net (with 8,872 sq ft offered with Vacant Possession)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 92
  • Auction 7th July 2016
  • Rent £22,500 per Annum Exclusive
  • Status Withdrawn Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
14 miles north of Worcester, 7 miles south of Wolverhampton,19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Rail
Air
Birmingham Airport
Situation

The property is prominently situated at the eastern side of Worcester Street benefitting from footfall between Kidderminster Rail Station and the prime pedestrianised High Street. The property is located close to The Rowland Hill Shopping Centre which houses retailers including Brighthouse, Claire’s Accessories and Santander. Other nearby occupiers include RBS, Peacocks, and Poundland.

Tenure

Long Leasehold. Held for a term of approximately 125 years and 1 month from 8th February 1965 until 25th March 2090 at a rent of £18,500 p.a.

Location
Miles
14 miles north of Worcester, 7 miles south of Wolverhampton,19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Rail
Air
Birmingham Airport
Situation

The property is prominently situated at the eastern side of Worcester Street benefitting from footfall between Kidderminster Rail Station and the prime pedestrianised High Street. The property is located close to The Rowland Hill Shopping Centre which houses retailers including Brighthouse, Claire’s Accessories and Santander. Other nearby occupiers include RBS, Peacocks, and Poundland.

Tenure

Long Leasehold. Held for a term of approximately 125 years and 1 month from 8th February 1965 until 25th March 2090 at a rent of £18,500 p.a.

Description

The property comprises three ground floor retail units with self contained office accommodation at first floor.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property comprises three ground floor retail units with self contained office accommodation at first floor.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reversion
25 Ground
First		 Retail
Ancillary
105.40 sq m
48.50 sq m
(1,134 sq ft)
(522 sq ft)
 SCOPE (1) 5 years from 26/09/2014 £12,500 25/09/2019
26 Ground
First		 Retail
Ancillary
62.89 sq m
34.33 sq m
(676 sq ft)
(369 sq ft)
 MIND (2) 10 years from 25/03/2008 (3) £10,000 24/03/2018
27 Ground
First		 Retail
Ancillary
388.80 sq m
253.20 sq m
(4,185 sq ft)
(2,725 sq ft)
 VACANT
POSSESSION		      
25-27 First Offices
182.30 sq m
(1,962 sq ft)
 VACANT
POSSESSION		      
Total    
1,075.42 sq m
(11,573 sq ft)
     £22,500

(1) Scope provide support, information and advice to more than a quarter of a million disabled people and their families every year and operate around 230 charity shops across England and Wales (Source: www.scope.org.uk 08/06/2016)
(2) Mind is a mental health charity helping over 375,000 each year and operate around 150 charity shops across the UK (Source: www.mind.org.uk 08/06/2016
(3) The lease provides an option to determine on 25/03/2017.

Contacts

Seller's Solicitors
Eversheds 1 Callaghan Square
Cardiff
CF10 5BT
Alexandra Shapland 0292 047 7210AlexShapland2@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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