Retail premises for sale in Sidbury, Worcester WR1

Freehold investment opportunity available in Sidbury, with scope to remodel the ground and lower ground floor commercial space and enhance rent and value.

Property
99 Sidbury is a freehold investment opportunity set cross four floors. 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 now vacant, providing an opportunity to remodel and re-let.

The commercial element briefly comprises an initial shop front, leading to kitchen and back-of-house space. Beyond this is a substantive storage room which could be utilised for other purposes. There is also an extensive lower ground floor area which could be utilised for further storage or other uses. The commercial floors require some modernisation but could ultimately be used by a variety of occupiers.

The agent understands that the property is Grade II listed.

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.

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 freehold, subject to two long residential leases on the upper floors, whilst the ground and lower ground floor are vacant. Current total rent (being the residential ground rents) - £300 per annum.

It is understood the residential flat owners also contribute towards a management / service charge fee.

Guide Price
Now reduced to £112,500.

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
It is understood that the energy performance rating is being reassessed as part of this sale and will be circulated to interested parties.

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.