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Lowesmoor Wharf & Canalside Business Park
Lowesmoor Wharf & Canalside Business Park, Worcester, WR1 2RS
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Offer Over
£4,250,000
Property Type
Investment, Office
Availability
Sold
Reference
223106

Key Features

Key Features

  • Lowesmoor Wharf and Canalside Business Park is a mixed use estate comprising predominantly industrial and office accommodation.
  • Located in a highly prominent position within Worcester City Centre.
  • 41 commercial units ranging in size from 350 sq ft to 5,400 sq ft providing a GIA of almost 64,500 sq ft (5,987 sq m) overall, plus 2 residential units.
  • Let to24 commercial tenants at a low average passing rent of GBP7.28 per sq ft.
  • Very low vacancy rate of just 10% of floor area, demonstrating strong occupier demand.
  • Total site area extends to2.73 acres (1.10 hectares).
  • Reversionary investment opportunity with immediate asset management initiatives available in order to drive rental and capital value growth.
  • ERV in the order of £560,000 per annum.
  • Strategically located with future redevelopment potential (subject to planning).
  • We are instructed to seek offers in excess of £4,250,000 subject to contract and exclusive of VAT.

Description

Description

Lowesmoor Wharf and Canalside Business Park comprises a multi-let office and industrial complex. The estate provides 43 units which consist of industrial, office, retail warehousing and two residential dwellings. The property consists of two distinct elements, being Lowesmoor Wharf and the Canalside office complex.

CANALSIDE BUSINESS PARK
The Canalside Business Park consists of four detached buildings providing office and commercial suites ranging between 350 sq ft and 1,500 sq ft.

All buildings are of brick construction with tiled roofs and communal toilet facilities.

LOWESMOOR WHARF
This element of the property comprises 23 self-contained units ranging in size from 380 sq ft to 5,400 sq ft.

The buildings are located around a central core and generally of an industrial nature, with brick elevations and a mix of roof coverings. To the boundary of the site there are several commercial buildings which are of a similar brick construction incorporating tiled roofs providing office/commercial accommodation.

Two residential flats are located at first floor level above Unit 71 and 10A Lowesmoor Wharf.

The site has a single access point from Lowesmoor Terrace which provides access to the internal estate road.

Car parking is provided across the estate with allocated parking spaces generally being demised within tenancy documentation. The estate road also provides access to Worcester Marina (owned by Canals & River Trust) which is located directly to the north of the property.

Make an enquiry

Chris Davies
Chris Davies
WATLING REAL ESTATE LIMITED

Make an enquiry

Jackie Birchall
+44 (0)7887 987 409
jackie.birchall@watling.com

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