Borough Council invests in town centre retail property

January 7, 2013

Swindon Borough Council has acquired a retail investment property in Regent Street for £1.57m.

The detached building, pictured, has four retail units on the ground floor with office accommodation above and a 26-space car park to the rear. It was bought from Tameside Metropolitan Borough Council.

Income from the property, which has William Hill, Oxfam and Haine & Smith as tenants, comes to just over £200,000 a year.

Bristol commercial property consultants Hartnell Taylor Cook advised Tameside with Forward Swindon, the council's regeneration and economic development company, acting on behalf of Swindon Council.

Hartnell Taylor Cook partner Ian Lambert said: “Swindon Borough Council has not only acquired the building adjacent, but is also a tenant occupying the car park at the rear. With its commitment to rejuvenating the centre of Swindon it made sense for the council to acquire this high-yielding property.”


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