Princess Street, Shrewsbury
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.
Property Features
- Recently split into a ground floor retail units with extensive basement storage, a five bedroom (with en suite shower rooms) House of Multiple Occupancy (HMO) and two bedroom apartment
- Retail unit 30-31 Princess Street, let on a 6-year lease to Ginger and Co Coffee Limited, a local independent coffee shop that has been operating in the town for a number of years and 29a Princess Str
- Uppers currently fully let on Assured Short Term Tenancies (ASTs) .
- Current rental income is £84,940 per rising to £86,940 per annum on 22/08/2025.
- Asking Price: £1,100,000 reflecting a gross initial yield of 7.7% rising to 7.9% in August 2025.
- EPC ratings for Ground Floor are D 76 and B 46.
- EPC for Residential Uppers is C 79.
- Further asset management potential.
Property Details
We understand all mains services are connected to the property subject to connection charges by the utility companies. Ingoing tenants to rely on their own enquiries.
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