Shirley High Street retail investment snapped up

A retail investment opportunity in a Hampshire high street location was quickly snapped up.

KSD Property Holdings Ltd acquired 52 High Street, Shirley in a deal brokered by property consultancy Myddelton & Major.

Quoting freehold price for the premises, which comprised a shop currently let to a national charity and a separate vacant flat, was £585,000.

Myddelton & Major Partner Simon Lee said: “Our purchaser could see that this was an excellent freehold investment opportunity with RPI linked rent increases.

“The property occupies a busy trading position fronting Shirley High Street, with the main shoppers’ car parks directly behind it. Other nearby traders include Timpson, Greggs, Card Factory, Superdrug and Costa.”

He added: “The ground floor retail unit has a large open plan sales area with a rear stock room and staff facilities. The premises also includes a vacant self-contained two-bedroom, two-bathroom flat above the shop which is separately accessed from the rear.

“The flat has been recently refurbished to a high specification ready for immediate letting.”

The shop unit is let to Sue Ryder, an established national charity providing care both in hospices and the community, on a five-year lease from June 2018. The Shirley branch is one of 450 shops trading nationwide.

Shirley is a busy mixed commercial and residential suburb of Southampton, about 1.5 miles north west of the city centre.