Addington Capital and its joint venture partners have sold a town centre retail parade in South Woodham Ferrers, Essex, to a private family office for £2.75m.
There are 14 multi-let retail units on the ground floor level of 34-46 Baron Road and 11-23 Herald’s Way, with 28,866 sq ft of vacant office accommodation on the first and second floors.
The overall passing rent for the 1980s built triangular parade, which Addingtron acquired in 2018 as part of the Bonsai Portfolio, is £181,817 per annum.
Jon Thorp, of Addington Capital, said: “Our business plan for the property has been successful and we have reached the right stage in our cycle to sell. The property has potential for redevelopment to alternative uses, including residential, flexible office space, educational & leisure accommodation, subject to obtaining the necessary consents.”
Allsop acted as agent for the vendor.
