Helix Property Advisors, on behalf of a private client, has sold the freehold of Enviros House, Shrewsbury to McCartney Family Investments for £2,062,500, reflecting a net initial yield of 9.16%.
The office investment, located within the popular Shrewsbury Business Park, comprises a pavilion-style ground and first floor office building, with an ancillary out building and 62 car parking spaces, totalling 14,629 sq ft (1,359 sq m). The property is let to Sinclair Knight Merz (Europe) Ltd on a 20-year lease, expiring in June 2022, providing an annual rental income of £199,921 (£13.67 per sq ft/£147 per sq m).
Fineman Ross advised Helix Property Advisors and the purchaser was represented by Williams Gunter Hardwick.