HSBC, Broad Street Worcester

Prime freehold retail investment opportunity

Disposal of the freehold interest in 6-9 Broad Street Worcester on behalf of institutional clients M&G Real Estate. The Prime Freehold retail property is located in the affluent cathedral city of Worcester. It is HSBC’s flagship banking premises in this busy pedestrianised trading location.
The property is home to HSBC’s Retail, Private and Commercial banking operations. The tenant had been in occupation of the subject property for over 50 years, demonstrating their commitment to the town despite external threats of Worcester Woods and on going management of the UK wide portfolio.
Fully let to the undoubted covenant of HSBC Bank Plc until 18th October 2021. Price achieved of £3,130,000 and the sale reflects a net initial yield of 6.75%.

Project Detail

The property compromises a prominent contemporary building, benefitting from an extensive glazed frontage. The building is arranged over ground, basement and three upper floors providing a total of 14,612 sq. ft. The store was fully refurbished 2 years ago, reflecting its importance as one of HSBC’s top 30 UK branches, offering Business and Express Banking as well as a HSBC Premier Centre on the first and second floors alongside its important Commercial banking operation.

The remainder of the second and third floors provide staff facilities, kitchens, break out areas and internal meeting rooms.

M&G Real Estate is the property investment arm of M&G. They are one of the world’s largest property investors with £26.3bn of assets across all the major sectors in the UK, Europe and Asia.
Please contact Harry Wills, Jack Barratt or Nick Halley.