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 distant.
Pershore train station provides direct travel to London Paddington via Evesham with Birmingham and the north accessed via Worcester.
With a population of around 7,125 (2011 census) the town draws from the wide catchment area, and benefits from tourist attractions, such as, Pershore Abbey. The town is an important centre serving the country of Worcestershire.
The sale of this investment offers the opportunity to acquire an investment as a company purchase which offers significant tax advantages for purchasers further details are available from the selling agents. The company has been within a single family ownership for approximately 60 years. The owners have maintained near full occupancy by ensuring the property is well maintained and offering the smaller accommodation within the Pershore Market on 'easy in easy out' licences at competitive rental levels.
The investment opportunity provides a balanced mix of income from commercial and residential uses. A significant number of the tenants are long standing occupiers. The gross income is summarised below. Full details are available on application from the selling agents, who can provide a full tenancy schedule by providing access to the Data Room.
The investment comprises of a significant town centre property holding totalling approximately 2.33 acres (0.942 ha), which is situated immediately adjoining Asda supermarket, the town's only supermarket and in turn providing the central focal point alongside the subject market for the town.
The Pershore Retail Market itself comprises, a long-standing and popular retail market, which consists of a recently refurbished detached building, which internally is fitted out with a series of permanent independent market stalls.
There is surrounding this building a number of single storey and two storey buildings offering a range of office, storage, retails and residential units. The property benefits from 104 customer car spaces within the site.
The property is offered Freehold, subject to the existing occupational leases/licences further details available on the Data Room for the investment or via the selling agents.
Prospective purchasers should make their own enquiries to the local planning authority. The investment benefits from a variety of planning consents falling within Classes A, B and C of Town and Country Use Classes under 1987.
The property has potential for further asset management via the obtaining of planning consents for further development on the site. Interest in the site has been received from a national pizza company. Further details are available from the selling agents upon request.
Prospective parties should rely on their own enquiries. The property is understood to be elected for VAT. The sale of the property is proposed to proceed by way of a sale of the company.
*Multi let mixed use property portfolio comprising of retail units, Pershore Retail Market offices and residential units *Asset management opportunity with further development potential (SSC) or potential future 'break up' opportunity