Worcestershire commercial property consultancy and Chartered Surveyors GJS Dillon has sold the freehold of a mixed use investment property in Worcester city centre.
Acting on behalf of a private client, Mike Pritchard, commercial negotiator at GJS Dillon, sold 22 Foregate Street, Worcester WR1 1DN, a mid-terrace, four storey, Grade II Listed mixed commercial and residential building, to a private investor for £622,500.
The ground floor restaurant, cellar and part first floor is let on a new 15 year lease, while four bed-sits and a one-bedroom flat are let on six-month Assured Shorthold Tenancies, producing a combined income of £54,300 per annum.
The property is situated in a prominent position fronting Foregate Street and within 800 yards of Foregate Street Railway Station in what is the main business district of Worcester city centre.
“This is a good, prominently located, income producing investment,” says Mr Pritchard.
With offices in Droitwich, Worcester and Bromsgrove, GJS Dillon is a firm of Chartered Surveyors which offers a comprehensive commercial property service, including commercial agency, commercial property management, valuations, and building consultancy, and unrivalled geographical coverage, throughout Worcestershire and along the M5 and A38 corridors. It can be contacted on tel. 01905 676169 or via www.gjsdillon.co.uk.