Commercial property group Sigeric has purchased the three-storey building at 15 Church Street in Monmouth town centre.
Sigeric paid in excess of £300,000 for the 6,967 sq ft building, which comprises a ground floor shop currently let to Coleg Gwent higher education college, and two upper floors which are currently vacant. Owner M7 Real Estate was advised in the sale by the Cardiff offices of commercial property consultants Knight Frank and Jenkins Best.
Phil Egan of Knight Frank commented: “We received several offers in the region and above the quoting price reflecting strong demand for this sort of opportunity and lot size within this regional market. It is positive to see both investor and owner occupier demand at this level.”
Henry Best of Jenkins Best added: “Church Street is an attractive cobbled street at the northern end of Monmouth town centre, with a good mix of local and national retailers nearby.”
Sigeric, part of the Wye Valley Group, owns commercial property in Hereford and Newport, a commercial business park, and a restaurant a few doors away from the Church Street building in Monmouth.
Managing director Tom David said: “This building was an attractive option for us, and offered the right sized building in the right location at the right price.
“We have already received strong interest in the upper floors from various potential occupiers, including a leisure-related business that would be ideal for the space available.”