Our Commercial Management Team are extremely pleased to confirm the acquisition of a parade of four retail units with offices to the upper parts, located in the popular location of central Wem.
The Morris Central Shopping Parade is a well-established and popular area of Wem town centre, besides being the principal local retail amenity.
A Co-op supermarket and Post Office are immediately adjacent, providing regular footfall. The property is also fronted by a large car park which acts as the primary car park for the town centre.
A particularly attractive, high yielding mixed-use Investment with asset management potential, the property provides 4,159 sq. ft. of accommodation which consists of four retail units with offices above, and is fully let to five tenants, which include Rowlands Pharmacy.
The Louis Taylor team successfully identified and acquired the property via Savills commercial auction at a price of £365,000, and following completion will manage these premises on behalf of a valued client.
Currently the Morris Central Shopping Parade produces a total rent of £42,000 per annum, with a return on investment of 11% and a good length of unexpired term across the 5 leases.
We consider the property offers a number of excellent asset management opportunities.
Key features
- High Yielding Mixed-Use Investment
- Parade of Four Retail Units and Office Upper Parts
- Fully Let to Five Tenants – Including Rowlands Pharmacy
- Asset Management Potential
- Established and Popular Location
- Investment Let at £42,000 p.a. (11% GIY)
If you are looking to acquire or dispose of commercial property, our team may be of some assistance. Please do not hesitate to give us a call on 01872 260222 or email at commercial@louis-taylor.co.uk for.