Our Summary

• A prime residential and retail development opportunity in the heart of Worcester City centre- Approved planning permission to convert the existing car park into eight brand new residential apartments and to create additional parking and another Class E retail unit
• - A separate Class E unit provides further development potential, including the possibility of future residential conversion (subject to planning approval)
• This unique parcel of land offers immediate rental income from the existing retail units and apartments, alongside full planning consent (Ref: 23/00636/FUL) for a high-quality new scheme designed with strong architectural, heritage and environmental credentials
• The retained Class E unit also has potential for future residential conversion (subject to planning)
• This property presents an opportunity to acquire an asset that delivers immediate rental income from the existing residential apartments and retail units, while being sold predominantly for its substantial development potential
• With a projected rental income of £57,485 per annum generated by the existing elements, combined with the approved redevelopment of the car park into new apartments, parking and another retail unit, the investment is well balanced with strong future potential
• For example, where the buyer declares themselves as a cash buyer but are in fact relying on an unsecured sale of their property
• Strong rental and development potential