Prominent Wellington town centre property sold

A prominent Wellington town centre property, which is home to three existing tenant businesses, has a new owner.

The sale of 56 Market Street, which is situated at the junction with Market Street, has been secured by agency Halls Commercial, who had invited offers of around £400,000.

The 6,306 square foot investment property has three tenants and a car park with 16 spaces, which is accessed from Bridge Street. There is also pedestrian access from both Market Street and Bridge Street.

The ground floor of 56 Market Street is occupied by an estate agent while the first floor provides accommodation for a gym. This property has a communal ground floor entrance and stairwell accessed from Market Street and first floor toilet facilities.

Attached to the rear of the property is a single storey, open plan retail showroom with welfare facilities.

All the leases are outside the Landlord and Tenant Act 1954 which means the property provides an income producing investment or a potential redevelopment opportunity.

Wellington is an established market town just three miles from Telford town centre and adjacent to the M54, which connects to the national motorway network.

James Evans, head of Halls Commercial, worked closely with the team at FBC Manby Bowdler LLP to complete the sale to the new owners.

“We were delighted to complete the sale of this prominently located property in Wellington town centre for our private clients and wish the new owner future success,” he said.

“This sale, which was completed in October, highlights the demand for income generating, investment properties in our Shropshire market towns. We look forward to helping existing and new clients to market similar opportunities.”

For more information about Halls Commercial contact the company on Tel: 01743 450700.