17 March, 2022
PARK AVENUE, WREXHAM – SALE
Acting on behalf of Management clients, BA Commercial are pleased to confirm the sale of 140 Park Avenue, Wrexham, LL12 7AN.
The premises comprised a freehold retail investment, let to multiple tenants, Corbetts Bookmakers Ltd, in a prominent corner position on Park Avenue & Rhosnesni Lane. With nearby occupiers including Gerrard’s and McColl’s.
The premises, which had an extensive frontage, provided a ground floor sales are of 82.4 sq m 887 sq ft, and let on the balance of a 10 year lease from April 2017 at a rental of around £11,000 pax, with rent review due in 2022.
The premises were offered at an offer in excess of £150,000. The purchasers were an expanding local property company, represented by Hart & Co.
Justin Rice-Jones who handled the sale commented “there was a good degree of interest in this popular suburban location close to the town centre, particularly with the benefit of a substantial regional tenant. Marketing resulted in us achieving a figure ahead of the guide figure reflecting the demand for this type of smaller investment lot size.”