About this property
The property comprises a fully let 3 storey office building incorporating fully refurbished offices beyond an attractive and impressive Victorian façade. Further internal features include category 2 defused lighting, uplighters, category 5E data cabling, and a full comfort cooling / heating system. There is allocated car parking situated at the rear of the building via security gates, with pedestrian access directly into the building.
Offers in excess of £1,000,000 are sought for the Freehold interest, subject to contract. This represents a net initial yield of 7.8% based on a current income of £82,500 per annum after deducting purchasers costs of
LOCATION & SITUATION
The property is located on The Tything within Worcester City Centre. The Tything is the main road leading from the north into Worcester City Centre. Worcester Magistrates Court is located just south of The Tything and Foregate Street Railway Station and Worcester Bus Station are both within walking distance of the offices. Worcester City is located close to the M5 and is ideally situated for commuting by road to the West Midland conurbation and Cheltenham and Bristol to the south. Birmingham Airport is approximately 30 miles distant, via the M5/M42. Worcester enjoys a direct line rail link to
London Paddington, with a journey time of approximately 2
In accordance with Anti-Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from
the successful Purchaser.
We are advised that VAT will be applicable on this transaction.
- Retained attractive façade fronting purpose built office building.
- 6,224 Sq. Ft. of refurbished office space over 3 floors.
- Fully let producing £82,500 per annum exclusive.
- Freehold—Offers in excess of £1,000,000, representing a NIY of 7.8% allowing for purchasers costs of 5.75%.
- Underlying capital value of £160.66 psf.