New owner for Shrewsbury office complex
An office complex in Shrewsbury has been sold in a deal worth around £1.3m.
New Windsor House at Lakeside Business Centre has been sold by joint agents Halls Commercial of Shrewsbury and Holt Commercial.
With a total internal floor area of 10,347 sq ft, the site was on the market with an asking price of offers in excess of £1.3m.
The sale was the last from a UK portfolio held by overseas investor Moorhen Properties.
The incumbent tenant – Charter Rural Surveyors Balfours, has purchased the long leasehold and plan to continue to operate from New Windsor House.
Rory Galliers, managing partner Balfours, said: “The vendor was looking to divest the last of their commercial portfolio in the UK and we are delighted, as the incumbent tenant, that we were able to come to an agreement that worked for both parties in order that could to secure our premises in Shrewsbury for the long-term.”
David Allen, director at Holt Commercial commented “The impending break in March 2021 led to a desire to cover both investor and occupational markets. This combined with the need for regional and local coverage hence Halls and Holts combining on this sale. The pandemic undeniably slowed aspects of the deal down, bar viewings all done virtually especially with the clients Moorhen Properties being based overseas in a different time zone.”
James Evans, head of Halls Commercial, said: “Despite the challenges that 2020 presented us with, we as a team adapted and have kept busy throughout the pandemic. New Windsor House is a great example of the practical measures we have put in place to allow us to continue as normal as possible and provide a high quality service to our clients.”