DeMontford Fine Art Limited, trading as Clarendon Gallery, has taken over the tenancy of number 17 High Street, Shrewsbury, which was previously occupied by Jones Bootmaker.
James Evans, head of Halls Commercial, said the company worked with a private investor and Gareth Storer, from Four & Co, to secure the new tenancy without advertising 17 High Street on the open market.
He said: “We were instructed by a retained client to look at the opportunity to asset manage the property. As a practice, we have increased the capital value of the property by sourcing a tenant with a strong covenant, on superior lease terms.
“There was great collaboration between all parties to secure this deal which demonstrates the understanding and demand for high profile retail property in the historic heart of Shrewsbury.
“It‘s great news for the town to see this attractive commercial building occupied again, adding to the town centre shopping mix. We wish the new tenants the best of luck during the fit-out phase and look forward to dropping in.”
17 High Street, which dates back to the second half of the 16th century, lies at the bottom of Grope Lane. In 1561, the prominent Newport family sold the plot of land to Richard Powell – a Shrewsbury merchant who was elected bailiff in 1573 and ‘91.
Powell built the existing property later that year and added stairs to a cellar from High Street in 1579. By the mid-17th century, 17 High Street was owned by Charles Benion – a Shrewsbury lawyer with a practice in the Common Law courts at Westminster.
Details of the property’s history were recorded by W A Champion in ‘Notes on Shrewsbury buildings’ – a copy of which is deposited in Shropshire Archives.
Mr Evans said Halls Commercial can assist investors and tenants with similar historic commercial opportunities, investments or off-market properties.