This property presents a significant renovation and investment opportunity in a bustling commercial district, situated on Bridge Street in Evesham. Known for its mix of retail, hospitality, and service-based enterprises, this area sees substantial foot traffic and offers excellent visibility to attract customers. With easy access to public transportation and nearby parking facilities, the location is highly convenient for both local residents and visitors. Its closeness to Evesham’s historic sites and the scenic River Avon contributes to a vibrant atmosphere that benefits local businesses.
The building features three stories plus a basement, with part of the ground floor currently leased to WH Smiths, while the upper floors remain unoccupied. The property is not listed, allowing for flexible development possibilities on the vacant upper levels (subject to planning approval). The layout includes:
- Basement: 95.8 m² (1,032 ft²)
- Ground Floor: 117.36 m² (1,263 ft²)
- First Floor: 115.99 m² (1,248 ft²)
- Second Floor: 117.72 m² (1,267 ft²)
- Third Floor: 73.01 m² (785 ft²)
In total, this space encompasses approximately 519.88 m² (5,595 ft²), presenting ample room for various uses or further development.
The existing lease with WH Smiths generates an annual rent of £22,200 and runs until June 2029, providing immediate income while allowing for future enhancements to the upper floors. The potential for conversion or expansion here should not be overlooked.
Utilities such as electricity, water, and drainage are already connected to the property. It is currently classified under Class E according to the Town & Country Planning Act (Use Classes Order), which allows for a variety of business activities.
Ownership of this freehold property comes with flexibility regarding current tenancy arrangements; however, prospective buyers should perform their due diligence regarding planning permissions if they wish to pursue redevelopment plans.
An Energy Performance Certificate is in progress following an earlier rating of E that will soon expire. Additionally, business rates reflect a current value of £28,250 for the ground floor and first-floor space occupied by WH Smiths. The remaining areas have a value of £1,800.
This property stands out as a unique investment opportunity amidst a thriving market environment—ideal for those looking to capitalize on both immediate rental income and long-term growth potential through strategic renovations or re-purposing efforts.
