Investment opportunity in Worcester Road, Malvern up for auction

The mixed used property at 19-21 Worcester Road has an estimated full rental value of £55,200 per annum and will appear in the livestreamed auction with a guide price of £275,000.

Ian Tudor, commercial auction director at Bond Wolfe, said the opportunity included a shop, three self-contained flats and a former printing works.

He said the shop is already rented out to a nail studio for £15,000 per annum, and that two of the flats were also currently occupied with rents of £7,800 and £6,600 respectively.  

The lounge of one of the flats, which is in need of refurbishment (Image: Bond Wolfe)

Mr Tudor said: “This is an attractive freehold investment and development opportunity in a much sought-after location in the affluent town of Malvern, with great potential to add value. 

“What we have is a mid-terraced property arranged over ground, first and second floors, together with a basement. 

“There is currently a self-contained retail unit on the ground floor, let as a nail studio, having rear ancillary areas, kitchen and toilets, plus a basement accessed separately from a covered side passage. 

“There is a separate communal entrance giving access to three self-contained flats on the upper floors, all enjoying excellent views over the town and the Worcestershire countryside beyond.

“Flat 1 is on the first floor, currently vacant and in need of full refurbishment, with the potential to reconfigure as there is also a vacant office and toilet.

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“On the second floor is Flat 2, a well-presented accommodation with a hall entrance, spacious lounge, kitchen, two double bedrooms, a separate toilet and shower room, and then Flat 3 with a similar lay-out on the third floor.

“To the rear and adjoining the main building is a former printing works over two floors, which could offer the potential for further living accommodation, subject to the necessary planning permissions.”

The nail studio, trading as Natural Nails, is on a 10-year lease until September 2029, subject to a rent review and break clause in September next year.

Mr Tudor added: “The current rents total £29,400 but we estimate that this could increase up to £55,200 once the property is fully occupied.”

The Malvern lot, offered in partnership with chartered surveyors Nicholas Brett & Co of Bromsgrove, is just one of scores of properties appearing in Bond Wolfe’s auction, due to start at 9am on Thursday, July 13.

The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.