SHREWSBURY FREEHOLD INVESTMENT SALE

May 1, 2018

Addington Capital, represented by KLM Retail, has sold the freehold interest of Princes House, Shrewsbury for £12.4m in an off market transaction to private investor clients of Knight Frank.

The 52,500 sq ft property comprises high quality retail and leisure let to tenants including JoJo Maman Bebe, Patisserie Valerie, Starbucks and Côte. The upper floor offices are well let to various government/council agencies. The current rent roll is £844,100 and the sale reflects a net initial yield of 6.4%.

Rob Dales, Partner at KLM Retail said: ‘Prime multi-let properties in right-sized affluent towns continue to experience strong investor demand due to more robust market conditions.’

Alex Wagstaff, Partner at Addington Capital commented: ‘During our period of ownership we have improved the tenant mix with the letting to Côte and regeared a number of leases to provide a platform for growth for the next owner. The retail market continues to provide active management opportunities and we will continue to target the sector.’

Latest News

HELIOS AND NORTHUMBERLAND ESTATES GAIN CONSENT FOR MEGA-SHED

June 2, 2021 - 10:57

Helios Real Estate and Northumberland Estates have been granted planning permission by Stockton Borough Council for a new 2 million sq ft multi-level logistics building to be developed as part of the [...]

+ Read More

Beltane secure second tenant for 255 High Street in Guildford

June 2, 2021 - 10:53

Beltane Asset Management have let another floor at their new office re-development at 255 High Street in Guildford. Investec Wealth & Investment Ltd are relocating from two local offices and have [...]

+ Read More

202 KITCHEN SEEKS NATIONAL EXPANSION

June 2, 2021 - 10:49

Exciting hospitality brand 202 Kitchen is to open its first restaurant this summer, a 6,000 eatery  at Spinningfields, Manchester and has launched a UK-wide search for sites in regional cities. Advis[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR