27-29 Bridge Street, Worksop | Property for sale | Savills
Guide price £120,000

27-29 Bridge StreetWorksop

  • New
  • Sole agency
  • Freehold
Investment
Yield 15%Yield

Key features

  • High Yielding Mixed Use Investment
  • Ground Floor Retail with Vacant Upper Parts
  • Let to H&T Pawnbrokers
  • Producing £17,500 per annum
  • 1,608 sq ft (149.4 sq m)
  • Upper Parts Offer Development/Conversion Potential (stp)
  • Prominent Unit with return Frontage
  • Established Pedestrianised Location
  • Guide Price Reflects 14.6% Gross Yield

High Yielding Investment/Development Opportunity Let to H&T Pawnbrokers with Vacant Uppers - Development/Conversion Potential (stp) Let at £17,500 per annum

About this property

  • The property comprises a high yielding investment opportunity let to the established High Street covenant of H&T Pawnbrokers. Arranged across ground and first floors, the ground floor is let to Harvey and Thompson Limited on a lease expiring 25/05/2025 and paying £17,500 per annum. We understand that the tenant has provided informal confirmation of their willingness to renew the lease. However no formal proceedings have commenced. The upper parts are currently vacant and benefit from their own separate access at ground floor level. There may be potential for conversion of the upper parts to alternative uses, including residential (subject to obtaining the requisite consents). Bridge Street forms the principal retailing area in Worksop, running from the Priory Shopping Centre in the north to the Market Square in the south. The property occupies a prime pitch on the street with nearby occupiers including Superdrug, Halifax, Greggs and Iceland

Additional information

  • The ground floor is let to Harvey and Thompson Limited on a lease expiring 25/05/2025 and paying £17,500 per annum.
  • We understand that the tenant has provided informal confirmation of their willingness to renew the lease. However no formal proceedings have commenced.
  • Harvey & Thompson Limited
  • D&B Rating: 5A1
  • Turnover (2022): £173m
  • Pre-Tax Profit (2022): £19.4m
  • Total Assets (2022): £200.8m
  • The tenant is part of H&T Group Plc; one of the UKs largest pawnbrokers with over 270 stores nationwide.
  • Whilst there are no extant planning consents, we consider the vacant upper parts may offer potential for conversion to alternative uses, including residential, subject to obtaining the requisite consents.