45 High Street, Shrewsbury, SY1 1ST
£395.32 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
2,909 sq ft
270 sq m
- SECTOR
Mixed use property for sale
Key features
- Comprehensively refurbished to provide a ground floor retail unit with extensive basement storage and a new ‘retail’ shop front and four high quality apartments with separate access off the High
- Retail unit let on a 6-year lease to Teresa’s Boutique, a local independent women’s fashion store that has been operating in the town for a number of years.
- Uppers currently fully let on Assured Short Term Tenancies (ASTs) .
- Current rental income (gross) is £71,800 per annum (gross), rising to a minimum of £76,800 per annum by 2026.
- Asking Price: £1,150,000 reflecting an initial gross yield of 6.25% rising to 6.67% in 2026 (assuming residential rents haven't increased in that time).
- EPC rating for Ground Floor is D 90
- EPC for Residential Uppers is B 81, C 79, B 81 and B 81.
- Further asset management potential.
Description
The recently refurbished building comprises a ground floor retail unit (including new shop front) with a sizeable and useful basement together with four quality apartments across the upper floors.
The retail unit is let to Teresa's Boutique, a women's clothes shop that has been operating in the town centre for a number of years. The apartments have dedicated and separate access directly off High Street and have all been let on new AST's.
Location
Located on the High Street close to its junction with Milk Street, the building is a short walk to the historic Town Square and Pride Hill and also lies in close proximity to Wyle Cop which is reputed to be the longest stretch of independent retailers in the Country.
Shrewsbury is the historic county town and administrative centre of Shropshire. The town benefits from excellent road and rail connections being located at the intersection of the A49 and A5 (T).
Shrewsbury has a residential population of 80,000 with a wider county population extending to 325,000. The town is also within commuter distance of Telford and has direct trains to Birmingham.
Availability_text
The accommodation comprises the following areas:
Brochures
45 High Street, Shrewsbury, SY1 1ST
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Shrewsbury Station0.3 miles
About Cooper Green Pooks, Shrewsbury
3 Barker Street, Shrewsbury, SY1 1QF
BUSINESS SPACE – As commercial property agents, we can offer informed advice on all aspects of office and industrial properties. Whether representing landlords, tenants or developers with regards to sales, lettings or advise, we are in tune with current demands in this fast moving sector.
RETAIL / LEISURE – We have extensive knowledge and experience of all types of retail units and leisure developments, whether in high street locations or secondary towns and pitches.
INVESTMENT –
Notes
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