21-24 Mardol, Shrewsbury
A unique town centre mixed-use investment, reflecting a gross yield of 8.5% (9.1% when fully let).
Property Features
- Freehold retail, office and leisure investment within an affluent County town.
- Current income of £160,450 per annum rising to £173,200 per annum when fully let.
- Good tenant mix with national, regional and local occupiers. Let to long established traders.
- Approx Area 2,225 sq m (23,948 sq ft).
- Weighted Average Unexpired Lease Term(WAULT) 4.48 years to expiry, 3.9 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.
Current Income £160,450 per annum.
Potential income £173,200 when fully let.
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.
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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