21-24 Mardol, Shrewsbury
Freehold Retail, Mixed Use Investment opportunity within a strategic affluent county town at an attractive yield.
Property Features
- Current income of £174,200 per annum, reflecting a Gross Yield of 9.2%.
- Good tenant mix with National, regional and local occupiers. Fully Let to long established traders.
- Balanced risk with Tenant's across retail, restaurant, office and leisure sectors.
- Approx Area 2,225 sq m (23,948 sq ft) NIA.
- Commercial Weighted Average Unexpired Lease Term (WAULT) 4.88 years to expiry, 3.79 years to break.
- A short walk to the Railway and Bus Station as well as public car parks.
Property Details
A freehold mixed-use commercial/retail/office investment.
The property comprises an arcade style unit known as 22 Hills Lane/24-25 Mardol which is occupied by an interiors/homeware store. The area includes ground and first floor retail space with access off Mardol and Hills Lane. 19 Hills Lane includes a bar/nightclub and separate restaurant on upper floors. Westgate House is a three storey office block with restaurant at ground and basement level.
Location
Shrewsbury has a borough population of roughly 80,000 (2021 census), but caters to an immediate population of 106,600. It is the county town and administrative centre of Shropshire, with a wider population of 324,700 and has a catchment extending towards Mid-Wales of roughly 608,000 people.
The town is strategically situated at the intersection of the A49 from the South of Wales and the A5 trunk road leading to the North of Wales and Telford/Birmingham.
Within Shrewsbury, the property is located between the river loop and the central prime shopping pitch of Pride Hill. The property is adjacent to short stay surface parking areas with long stay parking also being close by.
Retail in Shrewsbury
In 2025, Shrewsbury was named number one in the Telegraph’s list of UK’s best high streets for the second year in a row. Shrewsbury Market Hall has also been voted ‘Britain’s Favourite Market’ for an unprecedented third year running and a record 4th time at the 2025 Great British Market awards. The town is also home to Wyle Cop which is reputedly the longest uninterrupted run of independent traders in the Country.
Given such accolades, it is hardly surprising that Shrewsbury’s High Street attractedrecord footfall numbers in December 2025 with more than £135million spent by visitors to it’s town centre shops and businesses, outperforming GB benchmarks.
In the wider context Shropshire’s visitor economy as a whole surpassed £1 billion for the first time in 2025, a 10.1% increase from 2024, supported by its 10,660,000 visitors.
Viewings
By appointment with Cooper Green Pooks
Services
All mains services (excluding gas) are understood to be available subject to connection charges by the utility companies.
Town Planning/Use
The various individual properties within the investment lot are understood to have an existing use Class E retail/leisure & Class C3 dwelling for their current use and are situated within Shrewsbury Town Centre Conservation Area. Other uses may be appropriate, subject to planning.
Prospective occupiers should rely on their own enquiries with the Planning Authority as to whether planning permission is necessary for their proposed use.
Available Area
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