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Worcester – Prime Freehold City Centre Development Opportunity

Debenhams, 67-71 High Street, Worcester, WR1 2EN

Offers in excess of £2,250,000

Property Types:
Commercial, Development Opportunity
Sub Type:
Retail
Tenure:
Freehold

Description

  • Development opportunity of a landmark store totalling 47,597 sq ft.
  • Occupying a prime location on Worcester’s High Street.
  • Benefitting from exceptional frontage onto the pedestrianised High Street with return frontage onto Bank Street.
  • Majority held Freehold.
  • Let to Debenhams Retail Plc with flexible right for landlord to call for a surrender on three months’ notice.
  • Debenhams entered into a CVA in May 2019. This store was allocated a Category 3 Lease with no plans for short term closure. The lease terms have subsequently been varied by agreement the administrators of Debenhams Retail Limited.
  • Significant development potential for a variety of alternative uses subject to consents.
  • We are instructed to seek offers in excess of £2,250,000 subject to contract and exclusive of VAT. This equates to a low capital value of £47.27 psf.