An iconic retail building situated in the centre of Newton Abbot has just sold amid Lockdown 2.0.
25-27 Courtenay Street, an imposing building in the primary quarter of this busy market town comprising ground floor trading area of circa 1,400 sq ft, and ancillary upper floors, has been sold off market by commercial property specialists Charles Darrow.
The site, which was previously available “To Let” gained interest from a National Operator who made an approach to purchase the freehold. After swift negotiations, the freehold completed some 6 weeks after solicitors were instructed.
The sale, which took place within a challenging Lockdown period, is very encouraging news that there is still serious appetite for property within our central retail trading areas. Whilst the High Street is most definitely adapting within these uncertain times, the news of the recent sale is certainly very positive for Newton Abbot Town Centre.
The purchaser, an operator with over 380 premises within the UK, are very much looking forward to gaining a presence within Newton Abbot and investing in not only their premises, but to the wider town.
Associate director, James Sanders of Charles Darrow, who brokered the off-market deal commented “Following the approach to purchase the Freehold, we swiftly agreed terms with the buyer, and I am delighted to announce we completed earlier this week”.
“This large, town centre site, which sits within Newton Abbot’s primary shopping area, was clearly the perfect position for the groups next site purchase”
“The sale marks yet another freehold property sold by Charles Darrow in the area, with appetite continuing to remain very strong indeed”
“The group, which will likely be open and trading by Q1/Q2 2021, are going to be a welcome addition to Newton Abbot, and I am very much looking forward to the plans they have in store”.
Should you be considering the sale of your commercial asset, Charles Darrow would be delighted to introduce a database of active buyers to your site with strong premiums being achieved.