• 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

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.

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

The business rate multiplier is 49.9 pence per pound.

Freehold.

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.

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

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.

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