Summary - 29, REINDEER COURT, MEALCHEAPEN STREET WR1 2DS
1 bed 1 bath Retail Property (high street)
**Key Features:**
- **Size:** 34.80 sq m (375 sq ft) two-storey retail unit
- **Location:** Situated in the vibrant Reindeer Court, Worcester, close to major retailers like JD Sports, M&S, and TK Maxx
- **Yield:** Attractive gross initial yield of 6.36%, with a rental income of £7,000 per annum
- **Tenure:** Freehold acquisition with a 10-year lease from June 2024
- **Accessibility:** Within 0.3 miles of Worcester Foregate Street train station
This charming retail property in Worcester's bustling Reindeer Court offers an excellent investment opportunity for savvy buyers. With a total area of 375 sq ft spread across two stories, it features a spacious ground floor (222 sq ft) and an upper level (153 sq ft), making it versatile for various retail ventures. The unit is currently leased for 10 years at a steady annual rent of £7,000, ensuring immediate cash flow and a robust gross yield of 6.36%.
Nestled between a host of recognizable brands and pedestrian-friendly areas, the property benefits from high foot traffic and excellent visibility, ensuring a consistent customer base. The locality, known for its vibrant shopping experience and strong community atmosphere, appeals to both established businesses and emerging ventures. Potential owners will appreciate the property’s Edwardian period features and generous ceiling height, adding character and attractiveness to the retail space.
While situated in a busy urban setting, prospective buyers may want to consider the area's higher crime rate and the ongoing need for maintenance due to its age. However, the retail landscape surrounding Reindeer Court is continuously evolving, making this an outstanding and exclusive opportunity to captivate the market. Don't miss out on securing this prime retail space—opportunities like this are rare and may not last long!
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