New Windsor House, Lakeside Business Centre located in a prominent position at the front of Oxon Business Park, approximately two miles West of Shrewsbury town 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 and a generous parking ratio of 1:241 ft sq 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 for whom the team at Holt Commercial has acted since 2014. The property offered significant potential for asset management due to the flexibility of the layout of the building and the potential to split into eight suites of offices. The incumbent tenant - Charter Rural Surveyors Balfours LLP, which is an established regional Estate Agent and Land and Property Management business, has purchased the long leasehold and plan to continue to operate from New Windsor House. Rory Galliers, Managing Partner Balfours LLP, commented “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.”
Halls Commercial report continued growth in the commercial property market in Shrewsbury and the wider county. James Evans, Head of Halls Commercial, commented “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.”