Eddisons appointed to sell £7.5m retail and hospitality portfolio

Property group Eddisons has been appointed to sell a prime portfolio of nine, mostly retail and hospitality, properties across the UK with a collective guide price of £7.5m.

Including the Stafford branch of Barclays Bank, a Loungers venue in Malvern and two Costa outlets in Bolton and Norfolk, the ‘Fenwall’ portfolio, which features some landmark historic buildings, generates a total annual rental income of £550,000.

A large, and currently vacant, Grade II-listed Regency building on Cheltenham’s famous Promenade, and an ornate three-storey Victorian property in Malvern, let to hospitality group Loungers UK, are among the nine properties in the portfolio.

Stephen Hawkins, Eddisons’ regional managing partner, said: “These are diverse and high-performing assets that we have been instructed to sell as a whole or individually. A strong tenant profile includes Costa, Vodafone, Barclays Bank, Loungers UK, restaurant chain Cote and health testing company Randox.

“The vacant Cheltenham property has scope to increase annual rental income to £610,000 once it is let, and we are expecting high levels of interest from a range of investors for this portfolio.”

The nine properties that make up the Fenwall portfolio are located in Bolton and Hoylake in the North West, Stafford, Malvern and Cheltenham, Newbury, Chichester and Lewes in the South East, and Downham Market in Norfolk.