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Mealcheapen St - Reindeer Court Shopping Centre 375 - 2,000 SF Retail Condo Units Offered at $204,454 - $557,602 CAD Per Unit in Worcester WR1 2DS
INVESTMENT HIGHLIGHTS
- Other retailers cloeby include TK Maxx and Cafe Nero
- Easily accessible location
EXECUTIVE SUMMARY
Worcester is a city in central England’s West Midlands region. The city is a major retail centre, with several covered shopping centres to accommodate the major chains and many independent shops and restaurants, particularly in Friar Street and New Street. The M5 Motorway runs north–south immediately to the east of the city. It is accessed by Junction 6 (Worcester North) and Junction 7 (Worcester South). Worcester has thre stations. Worcester Foregate Street and Worcester Shrub Hill are in the city centre. A third station on the edge of the city, Worcestershire Parkway opened in 2020. The property is located within 0.3 miles from Worcester Foregate Street train station. Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more
PROPERTY FACTS
| Total Building Size | 87,888 SF | Floors | 3 |
| Property Type | Retail | Typical Floor Size | 26,252 SF |
| Property Subtype | Storefront | Year Built | 1991 |
| Building Class | B | Lot Size | 0.69 AC |
| Total Building Size | 87,888 SF |
| Property Type | Retail |
| Property Subtype | Storefront |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 26,252 SF |
| Year Built | 1991 |
| Lot Size | 0.69 AC |
AMENITIES
- Storage Space
3 UNITS AVAILABLE
Unit 12
| Unit Size | 2,000 SF | Condo Use | Retail |
| Price | $557,602 CAD | Sale Type | Investment |
| Price Per SF | $278.80 CAD | Tenure | Freehold |
| Unit Size | 2,000 SF |
| Price | $557,602 CAD |
| Price Per SF | $278.80 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
DESCRIPTION
Ground Floor: 105 sq m (1,132 sq ft)
Open Plan Retail, Storage
First Floor: 81 sq m (868 sq ft)
Ancillary, WC
+1 More
12 Reindeer Court, Worcester, 1
12 Reindeer Court, Worcester, 2
12 Reindeer Court, Worcester, 3
12 Reindeer Court, Worcester, 4
12 Reindeer Court, Worcester, 5
12 Reindeer Court, Worcester, 6
Unit 20
| Unit Size | 844 SF | Sale Type | Investment or Owner User |
| Price | $232,334 CAD | Tenure | Freehold |
| Price Per SF | $275.28 CAD | Cap Rate | 7.20% |
| Condo Use | Retail | NOI | $16,728.07 CAD |
| Unit Size | 844 SF |
| Price | $232,334 CAD |
| Price Per SF | $275.28 CAD |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Tenure | Freehold |
| Cap Rate | 7.20% |
| NOI | $16,728.07 CAD |
DESCRIPTION
Property Description:
Comprises ground floor retail unit with internally accessed first floor ancillary, providing the following accommodation and dimensions:
Ground Floor: 53 sq m (570 sq ft)
Open plan retail, storage
First Floor: 35 sq m (377 sq ft)
Ancillary, wc
Location:
Worcester is a city in central England`s West Midlands region. The city is a major retail centre, with several covered shopping centres to accommodate the major chains and many independent shops and restaurants, particularly in Friar Street and New Street. The M5 Motorway runs north–south immediately to the east of the city. It is accessed by Junction 6 (Worcester North) and Junction 7 (Worcester South). Worcester has three stations. Worcester Foregate Street and Worcester Shrub Hill are in the city centre. A third station on the edge of the city, Worcestershire Parkway opened in 2020. The property is located within 0.3 miles from Worcester Foregate Street train station. Nearby occupiers include M&S, Greggs, JD Sports, Costa Coffee and Waterstones, amongst many more.
SALE NOTES
Investment Consideration:
VAT is applicable to this property
Comprises two-storey retail premises
Suitable for variety of uses (Class E)
Located inside Reindeer Court between The Shambles and New Street, which is home to retailers such as JD Sports, M&S, Greggs, Café Nero, Vodafone, TK Maxx and more.
Tenancy:
Property is at present let to an Dev Creative Ltd
(with personal guarantee) for a term of 3 Years from 6th August 2025 at a current rent of £9,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in February 2027 linked to RPI. Tenant option to determine in February 2027 with min 6 months notice. Deposit held of £2,250.
Unit 29
| Unit Size | 375 SF | Sale Type | Investment |
| Price | $204,454 CAD | Tenure | Freehold |
| Price Per SF | $545.21 CAD | Cap Rate | 6.36% |
| Condo Use | Retail | NOI | $13,010.72 CAD |
| Unit Size | 375 SF |
| Price | $204,454 CAD |
| Price Per SF | $545.21 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.36% |
| NOI | $13,010.72 CAD |
DESCRIPTION
Ground Floor: 35 sq m (375 sq ft)
Open Plan Retail, Storage, WC
SALE NOTES
The property is at present let to an Individual for a term of 10 Years from 14th June 2024 at a current rent of £7,000 p.a. Rent review every 3rd year open market upward only. Tenant option to determine on 3rd and 6th anniversary with min 6 months notice. Deposit held of £1,750. Lease within Landlord & Tenant Act 1954
NEARBY MAJOR RETAILERS
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Mealcheapen St - Reindeer Court Shopping Centre
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