12 High Street, Shrewsbury, SY1 1SP
Franck-Steier Price and Sampson Moore have recently completed the sale of a retail investment on behalf of a private investor.
The property is located on the east side of High Street, Shrewsbury, and comprises a traditional four-storey grade ll listed building of 298 sq.m (3,116 sq.ft).
The property is let to Essensuals Holdings Ltd, guaranteed by Mascolo Group Ltd, on a lease expiring on 26 November 2013. The current rent is £40,000 per annum.
The investment was purchased for £607,000, which reflected a net initial yield of 6.23%. The purchaser was a private investor represented by David Menzies Associates.