High Yielding, Multi-Let Retail Investment

55-65 Worcester Street & 4-6 Oxford Street | Kidderminster | DY10 1EL


subject to contract

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  • Multi-let retail investment

  • Situated within the heart of the town centre

  • Active management opportunities

  • Freehold

  • £750,000, subject to contract

  • 12.0% Net Initial Yield

  • 15.7% Estimated Reversionary Yield

Kidderminster - Multi - DY10 1EL - 047


Kidderminster is located within Worcestershire, approximately 31 km (19 miles) south-west of Birmingham, 24 km (15 miles) north of Worcester and 23 km (14 miles) south-west of Dudley.

The town benefits from good transport links with several major routes running through the town including the A456 and A449 which provide access to Junction 3 of the M5 Motorway, approximately 18 km (11 miles) to the north-east and Junction 6 of the M5 Motorway approximately 23 km (14 miles) to the south. The town is connected to the national railway network with regular services to London Euston and Birmingham with a fastest journey time of approximately 2 hours 33 minutes and 40 minutes respectively. Birmingham Airport is approximately 51 km (32 miles) to the north-east.

The largest town in the Wyre Forest District, Kidderminster has plenty to offer visitors with it’s industrial/carpet manufacturing heritage, Carpet and Railway Museums and Victorian buildings. The River Stour and the Staffordshire and Worcestershire Canal both flow though the Town which made it of strategic importance through the Industrial Revolution.


The property is situated in the heart of Kidderminster town centre fronting both Worcester Street and Oxford Street. The Swan Shopping Centre is a couple of minutes’ walk to the north, home to a host of retail stores and cafes alongside a 400 space car park.

The property also benefits from being in close proximity to the Weavers Wharf Shopping Centre, a 30,193 sq m (325,000 sq ft) scheme with 420 car parking spaces. Occupiers include Marks & Spencer, Next, TK Maxx and Boots.

In addition, the Rowland Hill Shopping Centre is immediately to the north.



Purpose built in the late 1990’s, the property is configured to provide two retail units fronting Oxford Street and four retail units fronting Worcester Street:

55-57 Worcester Street - Vacant
A former banking hall, comprising a ground floor retail unit with ancillary accommodation on the first floor.

58-59 Worcester Street - Regenerate
A ground floor retail unit with ancillary accommodation on the first floor.

62-63 Worcester Street – Forces Support
A ground floor retail unit with ancillary accommodation on the first floor.

64-65 Worcester Street – Peacocks
A ground floor retail unit which has been fitted out by the tenant in their usual corporate style with ancillary accommodation on the first floor.

4-5 Oxford Street – The Live Venue
A ground floor leisure/entertainment venue.

6 Oxford Street – Vacant
A single storey retail unit.

There is a service yard, off Oxford Street, which services the rear of all the units, via a shared corridor and lift to part.


The property has been measured by BKR Floor Plans and provides the following Net Internal floor areas:

Net Frontage 13.49 m 44’3”
Gross Frontage 13.84 m 45’5”
Zone A 74.41 sq m 801 sq ft
Zone B 95.22 sq m 1,025 sq ft
Zone C 97.92 sq m 1,054 sq ft
Remainder 22.48 sq m 242 sq ft
ITZA 1,607  
Total Ground Floor 290.03 sq m 3,122 sq ft
First Floor 273.03 sq m 2,939 sq ft
Total 563.07 sq m 6,061 sq ft

Net Frontage 11.13 m 36’6”
Gross Frontage 11.35 m 37’3”
Zone A 66.42 sq m 715 sq ft
Zone B 66.05 sq m 711 sq ft
Zone C 23.50 sq m 253 sq ft
ITZA   1,134
Total Ground Floor 155.98 sq m 1,679 sq ft
First Floor 150.68 sq m 1,622 sq ft
Total 306.66 sq m 3,301 sq ft

Net Frontage 15.93 m 52’3”
Gross Frontage 15.98 m 52’5”
Zone A 98.20 sq m 1,057 sq ft
Zone B 101.63 sq m 1,094 sq ft
Zone C 109.44 sq m 1,178 sq ft
Remainder 99.96 sq m 1,076 sq ft
ITZA   2,033
Total Ground Floor 409.22 sq m 4,405 sq ft
First Floor 111.48 sq m 1,200 sq ft
Total 494.60 sq m 5,324 sq ft

Net Frontage 11.20 m 36’9”
Gross Frontage 11.66 m 38’3”
Zone A 62.15 sq m 669 sq ft
Zone B 64.38 sq m 693 sq ft
Zone C 70.51 sq m 759 sq ft
Remainder 186.08 sq m 2,003 sq ft
ITZA   1,456
Total Ground Floor 383.12 sq m 4,124 sq ft
First Floor 111.48 sq m 1,200 sq ft
Total 494.60 sq m 5,324 sq ft

Net Frontage 11.51 m 37’9”
Gross Frontage 11.84 m 38’10”
Zone A 64.19 sq m 691 sq ft
Zone B 86.77 sq m 934 sq ft
Zone C 112.32 sq m 1,209 sq ft
Remainder 155.42 sq m 1,673 sq ft
ITZA   1,669
Total 418.70 sq m 4,507 sq ft

Net Frontage 9.07 m 29’9”
Gross Frontage 9.25m 30’4”
Zone A 54.35 sq m 585 sq ft
Zone B 28.61 sq m 308 sq ft
ITZA   739
Total 82.96 sq m 893 sq ft

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £1,195 + VAT.


Rateable Value

According to the Valuation Office website the rateable value for the property is as follows:

55-57 Worcester Street £36,000
58-59 Worcester Street £36,000
62-63 Worcester Street £39,250
64-65 Worcester Street £38,750
4-5 Oxford Street £24,375
6 Oxford Street £17,750

The business rate multiplier is 49.9 pence per pound.





In accordance with the tenancy schedule which is available to download, the property is multi-let as follows:

55-57 Worcester Street
The property is currently vacant. The unit is on the market to let at a quoting rent of £23,500 per annum.

58-59 Worcester Street
Let to Regenerate (2016) Limited on a full repairing and insuring lease for a term of 10 years from 18th July 2018, expiring on 17th July 2028 at a passing rent of £19,000 per annum. There is a tenant break option on 18th January 2025 and an upwards only rent review on 18th July 2023.

62-63 Worcester Street
Let to Forces Support Limited on a full repairing and insuring lease, subject to a Schedule of Condition, for a term of 5 years from 10th November 2021, expiring on 9th November 2026 at a passing rent of £21,500 per annum. There is a tenant break option on 10th November 2024, subject to six months’ prior written notice. The lease is outside 1954 Act protection.

64-65 Worcester Street
Let to Peacocks Stores Properties Limited for a term of 5 years from 12th April 2021, expiring on 11th April 2026 at a passing rent of £20,000 per annum. The lease refers to a Schedule of Condition but a copy is not attached to the lease. At the time of letting the Heads of Terms stated that the tenant was to prepare a schedule at their cost but it does not appear as though they did so. There is a side letter permitting the rent to be paid monthly and the lease has a Covid clause stating that there is no rent payable during any enforced closures, subject to a maximum of 50% discount in any 12 month period.

4-5 Oxford Street
Let to Live Leisure Kidderminster Limited (trading as 45 Live), on a full repairing and insuring lease for a term of ten years from 6th November 2020, expiring on 25th November 2030, at a current passing rent of £35,000 per annum. There is a tenant break option on 28th September 2026. The lease is guaranteed by Mr Mark Carter.

The lease incorporates the following stepped rents:

6th November 2020 to 24th December 2020 £7,460.13 per annum
25th December 2020 to 24th December 2021 £36,000 per annum
25th December 2021 to 28th September 2022 £30,000 per annum
29th September 2022 to 28th September 2024 £35,000 per annum
29th September 2024 to 28th September 2026 £40,000 per annum

There is an open market rent review on 28th September 2026.

The tenant is currently in arrears, owing £20,756.41 + VAT (as of 7th June 2023). Currently, there is no repayment plan in place. A £9,000 rent deposit is held by the Landlord, who has drawn down on this deposit. Note that the purchaser is not required to pay for the arrears (please refer to the Special Conditions of Sale and rent payment schedule held in the data room).

6 Oxford Street
The property is currently vacant.

Therefore, an investor will benefit from a total income of £95,500 per annum, rising to an anticipated £124,000 per annum once the vacant units are re-let.


Peacocks offer quality, fashionable clothes for women, men and children at value prices. Albert Frank Peacock founded the company in Warrington, Cheshire in 1884. The Peacocks retail portfolio is throughout England, Northern Ireland, Scotland and Wales. For further information visit www.peacocks.co.uk.

In April 2021 Peacocks was bought out of administration by an international investment consortium.

Forces Support is a UK Bereavement and Veterans Charity launched in March 2010, with the aim to create a national network of Forces Support outlets to raise funds needed to run the practical support project nationally. For the year ending 31st March 2022 Forces Support Limited reported Net Assets of £2,478,013.

The objectives of the charity are:

• To provide support to the families and dependants of servicemen and women who have lost their lives whilst serving in the British armed Forces.

• To support ex-servicemen and women, their families and dependants who are in need through financial hardship by assisting in conjunction with the charity’s partners the provision of housing and other forms of charitable support.

The charity’s aim is to ensure that the parents, widows and children of families bereaved through military death can access practical support throughout the UK and that each have equal access to support.

The charity’s national shops sell donated furniture, clothing, electricals and bric-a-brac. For further information visit forcessupport.org.uk.

Regenerate was established in 1995 and is a group of 16 stores throughout the UK which buy and sell new and used products, and offer an easy buyback service, where customers are able to sell items for cash, and then buy those same items back later. All of the company’s stores offer an easy, interest-free payment plan and also have a travel money agency and cheque cashing agency in most shops. For further information visit regenerate.co.uk.

For the year ending 31st January 2022, Regenerate (2016) Limited reported Shareholders’ Funds of £274,917.

45 Live is an entertainment venue hosting a wide range of live music and events. The venue is available for hire and can be adapted to host a range of events including private parties, weddings, receptions and conferences. For further information visit www.45live.co.uk.

Kidderminster - Multi - DY10 1EL - 025


The property has been registered for VAT.  It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).


We are instructed to seek a figure of £750,000 (Seven Hundred and Fifty Thousand Pounds), subject to contract, reflecting a net initial yield of 12.0%, rising to an estimated 15.7% once the vacant units are let, assuming standard purchaser’s costs of 5.4%.

Please note that a purchaser will be re-charged the costs of the measured survey (£1,195 + VAT) and searches (£884.06) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £5,000 plus VAT.

It should be noted that the vendor will also consider individual offers for the units.

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Investment Considerations

  1. An opportunity to acquire a multi-let retail investment;

  2. The property is situated in the heart of the town centre;

  3. Active management opportunities and potential future large scale redevelopment;

  4. Opportunity to enhance income on letting vacant units.

  5. Freehold;

  6. Attractive lot size to an investor;

  7. Attractive yield profile.

Data Room and clicktopurchase®

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

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Contact Us

Singer Vielle   +44 (0) 207 935 7200
Dale Henry dale@singervielle.co.uk +44 (0) 203 701 1356
Daniel Elia daniel@singervielle.co.uk +44 (0) 203 701 1353

Vendors Solicitor

Gunnercooke  +44 (0) 333 014 3401
Jonathan Wilkinson jonathan.wilkinson@gunnercooke.com

Joint Agent

HRH Retail +44 (0)  207 908 7031
Tim Hance tim@hrhretail.com
Jeremy Lovell jeremy@hrhretail.com