Pooks Commercial Property Consultants of Shrewsbury acting with Allsops of London report the sale of 38 Pride Hill, Shrewsbury SY1 1DD, a prime shop unit let to Julian Graves, the national specialist natural food retailers, on a fifteen year lease from 2003. Occupying a busy trading position amongst a range of "High Street" names and producing a rent of £41,000 per annum, the property attracted a considerable amount of interest from local and national investors. It was sold at Allsop's London auction recently for £670,000 to a private investor.

Pooks, acting as joint auctioneers, were handling the sale on behalf of the Executors to a long-standing client. The firm's Marcus Pook said "Despite the general economic situation, small investments such as this are popular with property companies and private buyers alike, and we were able to generate a significant amount of interest which was reflected in spirited bidding at the auction".

The sale price – significantly above the expected level – reflects a yield of about 5.8%.

Julian Graves' business from the shop is unaffected by the sale. The vendors' solicitors were Wace Morgan of Shrewsbury.



For further information contact:
Charles Howell at Pooks - 01743 276644.