TK Maxx, 48-50 High Street, Worcester_Property for Sale
TK Maxx, 48-50 High Street, Worcester_Property for Sale

TK Maxx, 48-50 High Street, Worcester

48-50 High Street, Worcester, Worcestershire, WR1 2QB, UK

Description

The property occupies a prime retail position on the east side of Worcester’s pedestrianised High Street the property is immediately opposite Chapel Walk Shopping Centre. This 100% prime location boasts Worcester’s highest footfall and is a key component of the city’s on-street retail and leisure provision. The property is surrounded by established national retailers including Marks & Spencer, Boots, Office, River Island and Costa Coffee amongst others. The property is a short 5-minute walk to Foregate Street Railway Station. It also benefits from dual frontage, with a secondary access from The Shambles, a parallel retail thoroughfare offering a secondary entrance for customers.


Following a comprehensive refurbishment in 2017, the property provides a modern retailing environment highly suited to TK Maxx’s operation. The ground and first floors provide the primary sales areas, connected via escalator and passenger lift, professionally fitted in the tenant’s corporate style with extensive racking, suspended ceilings, recessed LED lighting, air conditioning, and audio systems.


Upper levels provide ancillary accommodation, with the second floor dedicated to storage, the third-floor housing staff amenities, training facilities and offices, and the fourth floor containing plant equipment. A roller shutter door on the elevation fronting The Shambles accommodates goods deliveries, with a dedicated service lift connecting to the upper floors.

...

Attributes

Building area gross
4,617 sm
Year Refurbished
2017
Occupancy
100%
WAULT to expiries
10 years
Creditsafe Score
100/100

Media

Investment highlights

  1. Retail investment located in the centre of the prime retail pitch, in a highly strategic position fronting both High Street and The Shambles, the busiest footfall area in Worcester.
  2. Pedestrianised High Street trading position, immediately opposite Chapel Walk Shopping Centre.
  3. Worcester is a thriving Cathedral City, with a large and affluent catchment.
  4. The property extends to a total of 49,698 sq ft (4,617 sq m), with two large retailing floors (ground & first) and three smaller ancillary floors above.
  5. Freehold.
  6. Single let to leading retailer TJX UK (trading as TK Maxx) on an FRI lease expiring August 2035, with close to 10 years unexpired without break.
  7. Recently rebased rent of £380,000 per annum (£7.65 psf) with an open market rent review in August 2030, capped at 110% of passing rent, offering future rental growth prospects.
  8. TK Maxx are a leading UK retailer operating from over 350 stores.
  9. TJX UK offers exceptional covenant strength, with £4.02bn turnover and £120.7m pre-tax profit for 2024, having a Creditsafe score of 100/100 representing a Very Low risk of business failure.


Proposal


We are instructed to seek offers in excess of £4,195,000 subject to contract and exclusive of VAT.


A purchase at this level reflects an attractive net initial yield of 8.50%, and a low capital value of £84.41 per sq ft.

TK Maxx, 48-50 High Street, Worcester 4_Property for Sale
TK Maxx, 48-50 High Street, Worcester 4_Property for Sale

Contact brokers

TK Maxx, 48-50 High Street, Worcester (0 Properties)

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Oct 2, 2025