High Street Retail Investment Sale
A retail investment opportunity in a Hampshire high street location was quickly snapped up.
KSD Property Holdings Ltd has acquired 52 High Street, Shirley in a deal brokered by property consultancy Myddelton & Major.
Quoting freehold price for the premises, which comprised a shop currently let to a national charity and a separate vacant flat, was £585,000.
Myddelton & Major Partner Simon Lee said: “Our purchaser could see that this was an excellent freehold investment opportunity with RPI linked rent increases.
“The property occupies a busy trading position fronting Shirley High Street, with the main shoppers’ car parks directly behind it. Other nearby traders include Timpson, Greggs, Card Factory, Superdrug and Costa.”
He added: “The ground floor retail unit has a large open plan sales area with a rear stock room and staff facilities. The premises also includes a vacant self-contained two-bedroom, two-bathroom flat above the shop which is separately accessed from the rear.
“The flat has been recently refurbished to a high specification ready for immediate letting.”
The shop unit is let to Sue Ryder, an established national charity providing care both in hospices and the community, on a five-year lease from June 2018. The Shirley branch is one of 450 shops trading nationwide.
Shirley is a busy mixed commercial and residential suburb of Southampton, about 1.5 miles north west of the city centre.
Myddelton & Major was named the most active agency in Wiltshire in 2018 for the seventh year running by Estates Gazette, the weekly and online magazine of the UK commercial property industry.
Contact Myddelton & Major for more details of properties on 01722 337577 or visit www.myddeltonmajor.co.uk.