THREE adjacent retail units have been sold freehold in separate deals through commercial property consultancy Hughes Ellard.
Numbers 4, 5 and 6 Savoy Buildings, West Street, Fareham, all have new owners after the properties – a former Art Deco-style cinema – exchanged hands.
Tim Clark, retail and leisure specialist at Fareham-based Hughes Ellard, said: “The rapid succession of purchases indicates strong demand for good town centre locations.”
Number 4, entirely let to WHSmith at £80,000 per annum, with the lease expiring in November 2019, was acquired by a private investor for £890,000 in auction. Hughes Ellard and Acuitus acted as joint auctioneers.
Number 5 was sold to Eden Mobility, now the UK’s largest mobility retailer, for an undisclosed figure. The store was previously occupied by shoe chain Stead & Simpson.
Again for an undisclosed figure, number 6 was sold to a private investor who has subsequently let the store to CeX – entertainment exchangers.
Hughes Ellard sold all three properties on the instructions of a family trust.