Recently completed 5-year lease extension from February 2025 (No breaks)
Large shop - approximately 4,926 sq ft (457.63 sq m)
Adjacent to Marks & Spencer and close to Tesco Express, Boots the Chemist, Superdrug, Caffè Nero, Costa, Waterstones and WHSmith
Prominent pedestrianised City Centre location, close to The Guildhall of Worcester
Lot 39
Auction 25th September 2024
Rent £85,000 per Annum Exclusive reducing to £53,200 p.a.x. on 01/02/2025 (2)
Status Sold
Price £470,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
22 miles south west of Birmingham, 22 miles north of Gloucester
Roads
A38, A44, M5 (Junction 7)
Rail
Worcester Foregate Street, Worcester Shrub Hill
Air
Birmingham Airport
Situation
The property is prominently situated on the west side of the pedestrianised The Shambles, which runs parallel to High Street, where The Guildhall of Worcester and Cathedral Square Shopping Centre are located. Marks & Spencer is adjacent to the subject property with nearby retailers including Tesco Express, Boots the Chemist, Superdrug, Caffè Nero, Costa, Waterstones and WHSmith.
Tenure
Freehold.
Location
Miles
22 miles south west of Birmingham, 22 miles north of Gloucester
Roads
A38, A44, M5 (Junction 7)
Rail
Worcester Foregate Street, Worcester Shrub Hill
Air
Birmingham Airport
Situation
The property is prominently situated on the west side of the pedestrianised The Shambles, which runs parallel to High Street, where The Guildhall of Worcester and Cathedral Square Shopping Centre are located. Marks & Spencer is adjacent to the subject property with nearby retailers including Tesco Express, Boots the Chemist, Superdrug, Caffè Nero, Costa, Waterstones and WHSmith.
Tenure
Freehold.
Description
The property comprises a large shop arranged on the ground and first floors.
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 a large shop arranged on the ground and first floors.
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
Floor
Use
Floor Areas Approx sq m
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Ground First
Retail/Ancillary Ancillary
358.45 99.18
(3,858) (1,068)
THE ENTERTAINER (AMERSHAM) LIMITED (1) (t/a The Entertainer)
10 years from 01/02/2015 with a recently extended 5-year lease expiring on 31/01/2030 (2)
£85,000
Total
457.63
(4,926)
£85,000 reducing to £53,200 on 01/02/2025 (2)
(1) For the year ending 28th January 2023, The Entertainer (Amersham) Limited reported a turnover of £220,747,000, a pre-tax profit of £7,653,000 and a net worth of £46,213,000 (www.northrow.com) (2) The property is currently let on a lease expiring on 31/01/2025 at a rent of £85,000 p.a. The lease has recently been extended for a further term of 5 years from 01/02/2025, without break, at a reduced rent of £53,200 p.a.x. The extended lease from 01/02/2025 is let on full repairing & insuring terms, subject to a schedule of condition.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
