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Robert Irving Burns

Shrewsbury Property Acquired by RIB Investment Team

We are delighted to announce the acquisition of a Shrewsbury Investment Property located at 21-24 St Mary’s Street, SY1 1ED.

About the property

Shrewsbury is a county town located in Shropshire, it is roughly 45 miles south of Chester, 15 miles west of Telford, and 55 miles northwest of Birmingham. The town has excellent road communications with the A5 trunk road leading onto the M54 motorway, and M6 motorway. Shropshire is also served by the Manchester trunk road – A49 Cardiff, and the A458. In addition, there are direct train services to London Euston in under 3 hours and trains providing access to Manchester, Cardiff, and Birmingham. There is an urban population of approximately 70,000 with 173,000 within 12 miles of the town centre and a significant catchment area from mid-Wales. The town is relatively affluent with unemployment which are historically lower than the rest of the region and country.

The subject Shrewsbury Investment Property is comprised of a substantial retail and office mixed use building arranged over ground, first, second, and third floors. The property was extensively refurbished in 2007 and the third floor was a new addition from that period, providing views over Shrewsbury town centre. The ground floor retail units benefit from rear delivery access and the offices are approached off St Mary’s Street via the car parking area and courtyard.

The area has a mature office market due to Shrewsbury’s importance as an administrative hub for the Border Counties and Shropshire. Major occupiers in the area include Shropshire Council, the NHS, and BT, together with a range of professional services firms covering a wide range of industries. Strong promotion by Shrewsbury’s business improvement district has also improved the reputation of retail in the area with a year on year increase of 3.8% in footfall.

The subject Shrewsbury Investment Property totals 14,654 square feet with 12,001 square feet of office accommodation and 2,653 of retail accommodation. The property also benefits from four parking spaces. The office element is let to Wace Morgan Limited, a well-established local law firm, and Nidec Control Techniques Limited which is a subsidiary of a major Japanese industrial group. The retail elements are let to Callaghan Fine Paintings Ltd who have an extensive customer base throughout the UK, and Vinegar Hill Ltd which is a regional retailer based in Stratford-Upon-Avon.

We were delighted to have acquired this Shrewsbury freehold investment on behalf of our private clients and look forward to doing more business throughout the country as our investment department continues to grow.

Investment
Team

Do not hesitate to contact a member of our Commercial Sales Team to discuss the sale of your property in Notting Hill or anywhere else in the UK:

Board Director

Damien Field

Board Director

Damien Field

Chartered Surveyor

Adam Ben-Harosh MRICS

Chartered Surveyor

Adam Ben-Harosh MRICS