29-31 Princess Street, Shrewsbury
Mixed use Town Centre freehold Investment Opportunity
Property Features
- Divided into two retail units at the ground floor and basement level and a five bedroom (with en suite shower rooms) HMO with a two bedroom apartment on the top floor with separate access off The Square.
- Ground floor occupiers are Ginger and Co Coffee Ltd, a well established independent coffee shop and Gem Time Curios, an antiques dealer who has occupied the shop for 19 years.
- Uppers currently fully let on Assured Short Term Tenancies (ASTs) .
- Current rental income is £87,840 per annum.
- Asking Price: £1,100,000 reflecting a gross initial yield of 8%.
- EPC ratings for Ground Floor are D 76 and B 46.
- EPC for Residential Uppers is C 79.
- Further asset management potential.
Property Details
29-31 Princess Street is Listed Grade 2 and 2* and provides a striking façade which blends with many of the period buildings along the street. It underwent a comprehensive redevelopment/refurbishment in 2022 to provide a 5 -room House of Multiple Occupation (HMO) and a two-bedroom flat whilst retaining the two retail units on the ground floor.
The HMO units have been provided to an excellent standard of finish (see photos) and are fully occupied on periodic tenancies. The retail units are let on leases expiring in 2026 and 2028 (both inside the Act) with Ginger & Co being a very successful and popular café’ in the Town.
Location
The property is located on Princess Street just off the historic Square in Shrewsbury’s town centre - the town’s most sought after retail pitch. The Street is a thriving mix of independent retailers, cafes and restaurants and is due to be enhanced further by the planned redevelopment of the former House of Fraser building which will provide high quality residential above and F & B use fronting Princess Street.
Shrewsbury is the county town of Shropshire being located about 47.8 miles North-West of Birmingham, 43.2 miles South of Chester, and 16.5 miles West of Telford. It has an urban population of 80,000 and benefits from good road communication links leading from the A5 trunk road to the M54 motorway and onto the M6 and the rest of the country’s national motorway network. The town is also served by the A49 Cardiff—Manchester trunk road and the A458 from its mid-Wales hinterland.
There are direct rail services to London Euston (approximately 2 hours 41 minutes) and also to Birmingham, Manchester and Cardiff.
In 2024, Shrewsbury was named number one in the Telegraph’s list of UK’s best high streets. 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 attracted record footfall numbers in December 2024 with more than £135million spent by visitors to it’s town centre shops and businesses, outperforming GB benchmarks.
Available Area
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