Shrewsbury stores sold in £1.3 million deal
A new block of shops on Shrewsbury Business Park has been sold in a £1.3 million deal.
The block includes the new Co-op and Greggs stores serving the park on the southern side of the county town, as well as another unit that is currently vacant.
It was developed as part of the extension to the business park, and has now been sold to a South Wales based family trust who will hold it as a long-term investment.
The existing retailers based on the park will not be affected by the sale.
Charles Howell, from agents Cooper Green Pooks, said: “The marketing of this property was eagerly anticipated and this was reflected in the interest shown by a range of both national and local buyers all with funds available.
"Secure relatively high yielding investments such as this are much in demand."
The total anticipated rental income is about £85,000 a year, and the block was sold close to the asking price of around £1.3 million before purchase costs.
The newly-opened stores provided facilities for the offices on the park, and will serve a workforce about 1,500 people in a range of sectors.
Among the organisations with offices on the park are Shropshire Council, the NHS, Greenhous, Handelsbanken, and professional firms including Whittingham Riddell, Brewin Dolphin, and FBC Manby Bowdler.
Cooper Green Pooks arranged the lettings to Co-Operative Food and Greggs and has been retained by the new owners to let the vacant unit. The joint agent is Halls.
