Nunnery Park Service Station, Horn Hill Road, Worcester, WR4 0SX
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LondonMetric, represented by Atlas Real Estate, has recently completed the off-market acquisition of a prime new build petrol filling station and convenience store in Worcester.
The property is prominently located on the A4440 dual carriageway, one of Worcester’s main arterial roads forming the eastern and southern part of the city’s ring road system. The property is situated on Nunnery Park, a mixed use development of industrial, trade and leisure uses with occupiers including KFC and Marstons.
The property comprises a 2019 built petrol filling station, convenience store, with integral Greggs concession and valeting facility on a site of 1 acre.
The property is let to Motor Fuel Group for a term of 25 years from March 2019. The lease is held on full repairing and insuring terms subject to 5 yearly upward only reviews to CPI collated at 1% and capped at 5% per annum compounded. The current rent is £210,000 per annum.
The property was acquired from a Forelle Estates, who were unrepresented, for £4,000,000 which reflects a net initial yield of 4.93%.
