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:
- 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.