Acting on behalf of Woodford Properties, Holloway Iliffe & Mitchell has sold 80/80a Parchment Street, Winchester to Maceberry in a transaction that sees Maceberry invest in two adjacent properties currently occupied by one of the UK’s iconic jewellers, Justice.
Just over a year ago, Maceberry acquired 81 Parchment Street on a sale and leaseback deal with Justice. The recent acquisition of the retail space at 80 and the residential upper floor of 80a ensures that the bespoke jeweller can remain in its existing premises for the long term.
Commenting on the sale, Holloway Iliffe & Mitchell director Tom Holloway said:
“Following the sale and leaseback of 81 Parchment Street, this second investment sale to Maceberry is good news for Justice, whose business is continuing grow in Winchester.
“Winchester is a popular city with a buoyant commercial property market. In spite of the south being hit hard during the economic crisis, Winchester showed remarkable resilience with quality transactions ensuring that values and yields were maintained.”