News: Powell Williams advises on £12.4m mixed use acquisition for George Capital
George Capital has purchased Princess House, Shrewsbury for
£12.4m from Addington Capital. Powell Williams provided the
technical due diligence for the 52,500 sq.ft acquisition, which
Prominently located in the historic centre of Shrewsbury
and comprises retail and restaurant units which include JoJo Maman
Bebe, Patisserie Valerie, Starbucks and Côte. The upper floor
offices are well let to government and local council agencies
including Shropshire Community Health NHS Trust and the Ministry of
As part of our technical due diligence, we identified an
anomaly with the potentially substandard EPC rating for one unit
under the MEES regulation, which was pro-actively re-assessed and
achieved a much improved rating, effectively de-risking it for any
future re-letting. We also advised on potential future strategic
enhancement of the property.
Martin Hunt, Partner in our Chester
"We are delighted to have worked with George Capital on another
acquisition in this tough market, where well priced properties,
with active asset management potential to enhance existing income
and value, are hard to find. We look forward to assisting them
further on this property and future acquisitions."
For further information regarding this project or our expert
advice on acquisitions, contact Martin Hunt.