4 Page - 5-13 Victoria Square
5-13 Victoria Square, Worksop, Nottinghamshire, S80 1DX
FOR SALE – 5-13 Victoria Square, Worksop, S80 1DX 5-13 Victoria Square , Worksop Fully let investment opportunity, with further development potential, and offering opportunities for active management. Summary: • Fully let Four ground floor retail units • Residential accommodation to upper floors • Further residential development (STP) • Passing rent - £83,760 per annum • Net initial yield 9.06% assuming costs at 5.6% Located on a busy junction • Close to town centre • May consider splitting
Key features Mixed Use Commercial Development Further development potential (STP) 8 individual lettable units EPC rating - D to G
£
Rateable Value - £34,625 (Excluding Residential)
£
Passing Rental - £83,760
£
Guide Price - £875,000
Mixed use investment opportunity Location The property is located on the peripheries of Worksop town centre, and situated fronting the busy Victoria square, which connects the main arterial routes through the town , of Gateford Road, Carlton Road, Eastgate and Waston Road. Whilst this is a secondary retail position, the area remains popular with retailers, due to the traffic movements and footfall that the confluence of the aforementioned roads create . The site also sits opposite a Matalan store, and is in close proximity to a number of the town centres pubs and restaurants. Worksop is a North Nottinghamshire Market town, centrally positioned , and is within easy reach of the surrounding centres of Doncaster, Sheffield, Rotherham, Lincoln and Nottingham. The A1(T) road and A57 intersection are within approximately 20 minutes driving distance and the M1,M18 and M62 are within easy reach. Description This is a fully let mixed use investment opportunity which is comprised of what would have originally be en five retail units currently utilised as four, with separately accessed residential accommodation over the first and second floors. To the left hand side of the property is a car park, which is included within the sale, which in turn leads to the rear of the property where there is a range of outbuildings, that are possibly suitable for development, subject to planning permission.
The buildings are constructed in traditional methods with brick elevations under a pitched roof , with a mix of concrete tile and slate covered roofs. The fenestration generally is timber and single glazed. In addition to the income derived from the commercial, residential and car park there is a further income stream from the letting of an advertising hoarding to the gable. We believe this is a good opportunity for an Investor looking to proactively manage the site with a view to regularising some of the occupancy and maximising the income stream. In addition there is also the consideration of the development prospects on the rear outbuildings. The residential accommodation varies in quality, with some of the flats having been redeveloped and others which would benefit from some redecoration. Our client may consider the slitting of the property via the sale of 5-9 which incorporates the Betfred Unit and the takeaway with the relevant residential accommodation above being included. Further details upon request. Accommodation Fisher German have not inspected all of the accommodation offered. Where we have not inspected various elements of the property, the dimensions are provided by the The Valuation
Office Agency or derived from EPCs, and it will be up to the purchaser to ensure the dimensions provided are accurate. Unit
Total (sqm)
Total (sqft)
5
79
850.35
7, 7a & 9
292
3143.06
11
63
678.13
13
146
1571.53
5a
93
1001.04
9a
106
1140.97
11a
104
1119.45
13a
45
484.38
13b
54
581.25
Tenure We understand that the property is freehold, and will be sold subject to the tenancies and leases currently in place at the time of sale. Business Rates Our investigations have revealed that there are five heriditaments as follows:
Address
Current Rateable Value
5 Victoria Square
£8100
7-9 Victoria Square
£10500
11 Victoria Square
£6100
13 Victoria Square
£8900
Advertising Board
£1025
Services We understand that mains water, drainage and electricity are understood to be connected to the property,. We must stress that none of these services have been checked or tested. Fixtures and fittings Any fixtures or fittings not expressly mentioned within the confines of these particulars are excluded from the sale. VAT
FOR SALE – 5-13 Victoria Square, Worksop, S80 1DX
Property
Tenant
Use
Lease Commencement
Lease Expiry
Rent Passing (per annum)
5
Betfred
Betting Shop
21st Dec 2011
20th Dec 2021
£
11,000.00
7, 7a, 9 & 9a
An Individual
Takeaway / Restaurant with two residential flats above
Verbal
On-going
£
27,500.00
11
Individual
Retail
27th May 2017
26th May 2023
£
6,500.00
13
Two individuals
Cards and gift shop
6th Sept 2013
5th Sept 2023
£
11,000.00
5a
Three individuals
Residential
£
5,700.00
11a
Individual
Residential
£
6,000.00
13a
Individual
Residential
£
4,500.00
13b
Two individuals
Residential
£
4,560.00
Car Park
Individual
Car Parking
8th July 2011
16th June 2026
£
4,000.00
Advertising Hoarding
Bartrop & Dilks Property Services Limited
Advertising
1st March 2018
30th April 2021
£
3,000.00
For further info please contact: Kevin Benson
Ben Flint
07748 634848
07770 822770
[email protected] Doncaster 01302 243932
[email protected] fishergerman.co.uk
Fisher German LLP and any Joint Agents give notice that: The particulars are produced in good faith are set out as a general guide only and do not constitute or form any part of an offer or any contract. No person within Fisher German has any authority to make or give representation or warranty on any property.
FOR SALE – 5-13 Victoria Square, Worksop, S80 1DX 5-13 Victoria Square , Worksop Fully let investment opportunity, with further development potential, and offering opportunities for active management. Summary: • Fully let Four ground floor retail units • Residential accommodation to upper floors • Further residential development (STP) • Passing rent - £83,760 per annum • Net initial yield 9.06% assuming costs at 5.6% Located on a busy junction • Close to town centre • May consider splitting
Key features Mixed Use Commercial Development Further development potential (STP) 8 individual lettable units EPC rating - D to G
£
Rateable Value - £34,625 (Excluding Residential)
£
Passing Rental - £83,760
£
Guide Price - £875,000
Mixed use investment opportunity Location The property is located on the peripheries of Worksop town centre, and situated fronting the busy Victoria square, which connects the main arterial routes through the town , of Gateford Road, Carlton Road, Eastgate and Waston Road. Whilst this is a secondary retail position, the area remains popular with retailers, due to the traffic movements and footfall that the confluence of the aforementioned roads create . The site also sits opposite a Matalan store, and is in close proximity to a number of the town centres pubs and restaurants. Worksop is a North Nottinghamshire Market town, centrally positioned , and is within easy reach of the surrounding centres of Doncaster, Sheffield, Rotherham, Lincoln and Nottingham. The A1(T) road and A57 intersection are within approximately 20 minutes driving distance and the M1,M18 and M62 are within easy reach. Description This is a fully let mixed use investment opportunity which is comprised of what would have originally be en five retail units currently utilised as four, with separately accessed residential accommodation over the first and second floors. To the left hand side of the property is a car park, which is included within the sale, which in turn leads to the rear of the property where there is a range of outbuildings, that are possibly suitable for development, subject to planning permission.
The buildings are constructed in traditional methods with brick elevations under a pitched roof , with a mix of concrete tile and slate covered roofs. The fenestration generally is timber and single glazed. In addition to the income derived from the commercial, residential and car park there is a further income stream from the letting of an advertising hoarding to the gable. We believe this is a good opportunity for an Investor looking to proactively manage the site with a view to regularising some of the occupancy and maximising the income stream. In addition there is also the consideration of the development prospects on the rear outbuildings. The residential accommodation varies in quality, with some of the flats having been redeveloped and others which would benefit from some redecoration. Our client may consider the slitting of the property via the sale of 5-9 which incorporates the Betfred Unit and the takeaway with the relevant residential accommodation above being included. Further details upon request. Accommodation Fisher German have not inspected all of the accommodation offered. Where we have not inspected various elements of the property, the dimensions are provided by the The Valuation
Office Agency or derived from EPCs, and it will be up to the purchaser to ensure the dimensions provided are accurate. Unit
Total (sqm)
Total (sqft)
5
79
850.35
7, 7a & 9
292
3143.06
11
63
678.13
13
146
1571.53
5a
93
1001.04
9a
106
1140.97
11a
104
1119.45
13a
45
484.38
13b
54
581.25
Tenure We understand that the property is freehold, and will be sold subject to the tenancies and leases currently in place at the time of sale. Business Rates Our investigations have revealed that there are five heriditaments as follows:
Address
Current Rateable Value
5 Victoria Square
£8100
7-9 Victoria Square
£10500
11 Victoria Square
£6100
13 Victoria Square
£8900
Advertising Board
£1025
Services We understand that mains water, drainage and electricity are understood to be connected to the property,. We must stress that none of these services have been checked or tested. Fixtures and fittings Any fixtures or fittings not expressly mentioned within the confines of these particulars are excluded from the sale. VAT
FOR SALE – 5-13 Victoria Square, Worksop, S80 1DX
Property
Tenant
Use
Lease Commencement
Lease Expiry
Rent Passing (per annum)
5
Betfred
Betting Shop
21st Dec 2011
20th Dec 2021
£
11,000.00
7, 7a, 9 & 9a
An Individual
Takeaway / Restaurant with two residential flats above
Verbal
On-going
£
27,500.00
11
Individual
Retail
27th May 2017
26th May 2023
£
6,500.00
13
Two individuals
Cards and gift shop
6th Sept 2013
5th Sept 2023
£
11,000.00
5a
Three individuals
Residential
£
5,700.00
11a
Individual
Residential
£
6,000.00
13a
Individual
Residential
£
4,500.00
13b
Two individuals
Residential
£
4,560.00
Car Park
Individual
Car Parking
8th July 2011
16th June 2026
£
4,000.00
Advertising Hoarding
Bartrop & Dilks Property Services Limited
Advertising
1st March 2018
30th April 2021
£
3,000.00
For further info please contact: Kevin Benson
Ben Flint
07748 634848
07770 822770
[email protected] Doncaster 01302 243932
[email protected] fishergerman.co.uk
Fisher German LLP and any Joint Agents give notice that: The particulars are produced in good faith are set out as a general guide only and do not constitute or form any part of an offer or any contract. No person within Fisher German has any authority to make or give representation or warranty on any property.
