29 Lombard St 26,351 SF 100% Leased Retail Building Stourport On Severn DY13 8DT $4,263,654 ($161.80/SF) 9.15% Cap Rate

Tannery Retail Park presents a compelling opportunity to acquire a high-yielding, fully-let retail asset in the heart of Stourport-on-Severn. Formerly a Co-op supermarket, the property underwent a comprehensive refurbishment in 2025, transforming it into a modern multi-let retail scheme comprising four units. The site spans 2.10 acres and includes a 145-space customer car park operated by Euro Car Parks with ANPR technology, offering 2 hours of free parking and generating additional income through Parking Charge Notices.
Strategically located on Lombard Street at the northern end of the town centre, the park benefits from proximity to High Street and limited competition for larger format retail. Tenants include national brands such as B&M Retail, Angling Direct, Matrix Pharmacy, and St Richard’s Hospice Foundation, with B&M contributing 60% of the rental income. The leases are structured with fixed rental uplifts and service charge caps, ensuring predictable cash flow and upside potential.
The asset generates £306,120 per annum, including projected car park revenue, with further income growth possible through parcel locker installations and EV charging stations. Planning approvals are in place for the current configuration under Use Class E. The property is offered freehold with a net initial yield of 9.0%, rising to 9.75% by 2028 through fixed uplifts and asset management initiatives.