Property photos
Guide price
£124,000
(£124,000.00/sq. ft)
Retail premises for sale
Sidbury, Worcester WR11 sq. ft
Local area information
Property location
Nearby amenities
- The King's School 0.2 miles
- Fort Royal (SEN) 0.3 miles
- Worcester Foregate Street 0.6 miles
- Worcester Shrub Hill 0.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Worcester to find out more about the local area.
Features and description
- Freehold investment opportunity
- Recently let to commercial occupier
- Re-marketed with the benefit of a new tenant
Freehold investment opportunity available in Sidbury, sold with the benefit of a commercial tenancy across ground and lower ground floors, alongside ground rent returns on the upper floors.
Property
99 Sidbury is a freehold investment opportunity set cross four floors. However, the two upper floors are residential and have been sold off on a long leasehold basis, now providing a combined ground rent of £300 per annum. The ground and lower ground floors are let to a retail occupier.
The commercial element of the building across the ground and lower ground floors briefly includes: An initial shop front, leading to kitchen and back-of-house space, a substantive storage room beyond, and an extensive lower ground floor area. The tenants currently operate a retail business, with the lease having a contractual term expiring July 2029.
The commercial parts of the property across the ground and lower ground floor are approximately 1524 square feet (c.141 square metres). A floor plan of these parts is provided for illustrative purposes.
The agent understands that the property is Grade II listed.
Location
The property is in close proximity to the city centre and a short walk away from the popular residential areas of Battenhall and Diglis. The Worcester to Birmingham canal is just a short walk away. Nearby occupiers include the Commandery museum and cafe, various bars and restaurants (such as Food & Liquor, the Hand in Glove and the Kings Head) and various independent retailers.
Tenure & Tenancies
The property is being sold on a freehold basis, subject to two long residential leases on the upper floors providing a combined ground rent of £300 per annum, whilst the ground and lower ground floor are let to a commercial occupier with a current passing rent of £8,340 per annum.
The commercial lease is for a term of years commencing 12 July 2024 and ending 11 July 2029, with a tenant break option in 2027. The tenancy is contracted out, and has the benefit of an upward only open market rent review in July 2027, as well as a rent deposit held by the landlord totalling £2,085.
Current total passing rent (across the residential ground rents plus the commercial rent) currently totals £8,640 per annum.
It is understood the residential flat owners and the commercial tenant contribute towards a management / service charge fee.
Guide Price
£124,000
Planning
The Buyer should rely on its own enquiries of the local planning authority.
Value added tax
It is understood that VAT is not chargeable in respect of this transaction.
Energy Performance
The agent understands that the vendor has applied the listed building exemption and therefore no Energy Performance Certificate is provided.
Business Rates / Council Tax
Buyer to rely on its own enquiries of the voa and/or local authority.
Costs
Each party to bear their own legal costs.
Viewing
All viewings strictly by prior arrangement with the agent.
Property
99 Sidbury is a freehold investment opportunity set cross four floors. However, the two upper floors are residential and have been sold off on a long leasehold basis, now providing a combined ground rent of £300 per annum. The ground and lower ground floors are let to a retail occupier.
The commercial element of the building across the ground and lower ground floors briefly includes: An initial shop front, leading to kitchen and back-of-house space, a substantive storage room beyond, and an extensive lower ground floor area. The tenants currently operate a retail business, with the lease having a contractual term expiring July 2029.
The commercial parts of the property across the ground and lower ground floor are approximately 1524 square feet (c.141 square metres). A floor plan of these parts is provided for illustrative purposes.
The agent understands that the property is Grade II listed.
Location
The property is in close proximity to the city centre and a short walk away from the popular residential areas of Battenhall and Diglis. The Worcester to Birmingham canal is just a short walk away. Nearby occupiers include the Commandery museum and cafe, various bars and restaurants (such as Food & Liquor, the Hand in Glove and the Kings Head) and various independent retailers.
Tenure & Tenancies
The property is being sold on a freehold basis, subject to two long residential leases on the upper floors providing a combined ground rent of £300 per annum, whilst the ground and lower ground floor are let to a commercial occupier with a current passing rent of £8,340 per annum.
The commercial lease is for a term of years commencing 12 July 2024 and ending 11 July 2029, with a tenant break option in 2027. The tenancy is contracted out, and has the benefit of an upward only open market rent review in July 2027, as well as a rent deposit held by the landlord totalling £2,085.
Current total passing rent (across the residential ground rents plus the commercial rent) currently totals £8,640 per annum.
It is understood the residential flat owners and the commercial tenant contribute towards a management / service charge fee.
Guide Price
£124,000
Planning
The Buyer should rely on its own enquiries of the local planning authority.
Value added tax
It is understood that VAT is not chargeable in respect of this transaction.
Energy Performance
The agent understands that the vendor has applied the listed building exemption and therefore no Energy Performance Certificate is provided.
Business Rates / Council Tax
Buyer to rely on its own enquiries of the voa and/or local authority.
Costs
Each party to bear their own legal costs.
Viewing
All viewings strictly by prior arrangement with the agent.
Floor plans and tours
Floor plans (1)
1 floor plan available
View the floor plan to understand the space and layout of this property.
More information
Listed by
KJB Commercial
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