Retail unit that is home to M&S Foodhall in Oswestry goes up for sale
The freehold of a prominent Oswestry town centre retail unit, which has been occupied by M&S for the last 19 years, is to be sold at auction.
The property, which is listed for sale in an upcoming auction hosted by auctioneering and property firm Acuitus, has a guide price of £1.5 million.
M&S Foodhall has occupied the building in Smithfield Road, Oswestry, since 2007 and remains the sole premium retailer in the town with the lease set to run for another 13 years, subject to a tenants’ break option in 2034.
The 12,714sq ft property currently generates an annual rental income of £126,726 with yearly RPI linked rent reviews subject to 0 per cent and three per cent cap and collar.
David Margolis, of Acuitus, said: “We’re seeing more investors choosing to put their money into brick and mortar; the stability offered by supermarkets and convenience stores seems to be the ideal tonic to an ever more volatile market.
“This property, in particular, has the added benefit of a long lease running to 2039, let to a renowned UK retailer.”
The auction will take place on March 26 at 1pm and will be broadcast via livestream on the Acuitus website with bidding online, by telephone and by proxy.
