Rare opportunity to acquire a multi-let, mixed use property portfolio.
INVESTMENT SUMMARY * Prominent town centre location * Comprising residential, retail and office uses and incorporating a established covered market. * Total site area of c. 2.33 acres * Total building areas of c. 36,322 sq.ft * Current gross income of c.£442,134 p.a. * An average net income over the last 3 years of £350k p.a. equating to a low net rent of £9.65 psf * Income well spread between uses. * Consistently low year on year vacancy rate, currently limited to one market stall. * Various asset management opportunities including reversionary potential in the rent and redevelopment angles, subject to planning.
Data Room - http://pershore-market.co.uk
Prominent town centre location
Total site area of c.2.33 acres
Current gross income of c.£442,134 pa
Income well spread between uses
Pershore is an attractive market town on the banks of the River Avon within the Vale of Evesham. It is situated approximately 10 miles from Worcester and 6 miles from Evesham, with junction 7 of the M5 motorway being approximately 7 miles.
Pershore train station provides direct travel to London Paddington via Evesham, with Birmingham and the north accessed via Worcester.
With a population of approximately 7,125 (2011 census) the town draws from the wider District, with the medieval Pershore Abbey acting as a major tourist attraction.
Terms & Conditions
We are instructed to seek offers for the opportunity via the purchase of Pershore Markets Limited at a guide figure of £5,500,000 (Five million five hundred thousand pounds) which reflects a net initial yield of 7.86% on gross income and 6.15% on current net income, assuming low purchaser's costs of 2.3% (assuming SDLT calculated at 0.5% for the acquisition of company shares)