31 & 33 Pride Hill, Shrewsbury
Franck-Steier Price LLP have recently completed the freehold sale of two prime shops at 31 and 33 Pride Hill, Shrewsbury on behalf of Schroder Emerging Retail Property Unit Trust.
The retail units occupy a 100% prime trading position within Shrewsbury town centre and comprise ground floor retail accommodation with upper floors of ancillary accommodation.
The units are both let to national occupiers, Vodafone and Optical Express for terms expiring in 2020 and 2015 respectively. The total combined income is £146,350 per annum.The property was sold for £2,480,000 which reflected a net initial yield of 5.58%. Franck-Steier Price LLP represented Schroder Emerging Retail Property Unit Trust and City and Wharf acted for a private purchaser.