Strong demand for commercial property investment opportunities is outpacing supply across Shropshire, reports Halls Commercial in Shrewsbury who have investors waiting to buy.
The award-winning company is now actively seeking investment property opportunities for retained clients, following the successful sale of 2, High Street, Church Stretton, a former banking hall and currently let to PCB Solicitors.
Known as “Little Switzerland” because of its picturesque landscape, Church Stretton is a popular Shropshire tourism destination and a ‘Walkers are Welcome’ town.
Underlining the demand and market confidence in Shropshire, 2, High Street was under offer within a day of it hitting the market at a price of £250,000 last September. Halls Commercial worked with solicitors Clark Brookes Turner Cary to complete the sale to new owner, who are a private property company.
PCB Solicitors LLP have a five-year lease of the property at an annual rent of £19,700, giving an initial yield of 7.7%.
“Demonstrating the strength of commercial investment sales in Shropshire and our network, 2, High Street was under offer within just one day of advertising the property,” said James Evans, head of Halls Commercial.
“The property offered a strong tenant covenant strength alongside a good commercial location and attracted significant interest. The quick turnaround for our client demonstrates the co-ordination and communication of all parties involved.
“I would encourage anyone with an investment property to sell to contact us, as we have clients waiting to consider new commercial investment options.”
Built in around 1920, 2, High Street is an attractive and prominently positioned, ashlar stone building, providing professional office accommodation. The property has single and two storey levels with basement accommodation and a disabled access to the side.
The ground floor has 1,380 square feet of office space and a 105 sq ft staffroom, while the 105 sq ft first floor has two toilets and a lobby and the basement extends to 1,236 sq ft.
Home to around 50 retail businesses, Church Stretton has good transport link. The town is situated adjacent to the A49 trunk road, which connects Shrewsbury (13 miles) and Ludlow (15 miles), with links to the M54 and national motorway network.
The town’s railway station has direct services to Shrewsbury, Manchester, Cardiff and Ludlow.