High street property secured by stationary chain

FHP’s retail and leisure team has announced the news of the investment sale of 16-18 High Street in Uttoxeter.

The sale involved an occupational lease to WH Smith, who recently committed to a new 5-year term of the 5,620 sq ft property in March 2023.

Ellis Cullen from FHP said: “I am pleased to have been involved in this transaction. The recent lease renewal with WH Smith helped increase the level of interest and ultimately the purchase price, which was an excellent result for my client.

“Uttoxeter’s High Street has been resilient through the turbulent market conditions of recent years, and it’s encouraging to see the likes of WH Smith, taking new leases for larger format units. After interest from a variety of investors, we found a suitable purchaser and were able to conclude the matter swiftly.”