Landmark Shrewsbury building sold to Furrows

A privately-owned, family-run business known for its car sales has added to its property portfolio by buying one of Shrewsbury's most significant buildings.
 
The Furrows Group, which has been serving motorists in Shropshire since 1918, has bought historic Prospect House in Belle Vue and plans to convert the property, which was once used as a maltings, into residential apartments which will be made available for rent.
 
The East Wing of the period building will continue to be used as existing office space, with Towler Shaw Roberts, who handled the sale, retained to manage the letting of the suites which will start from 2,000 sqft.
 
Rachael Downey, a director of the Furrows Group, which has dealerships in Shrewsbury, Telford and Oswestry, stressed the company were delighted to have purchased Prospect House.
 
She said: "We are very excited to have bought such a historic building in Shrewsbury. As a family, we are passionate about Shrewsbury and we see this as a very attractive addition to our property portfolio.
 
"We are very sensitive to the historic nature of the property, the quality of Belle Vue as a location, and we have exciting plans for Prospect House."
 
Toby Shaw, a partner at TSR, said “There had been much interest in the property, illustrating a strong demand for significant buildings of this nature, which are proving to be attractive investment opportunities."
 
An historic hidden gem in Shrewsbury, planning permission is in place at Prospect House for conversion to 34 apartments.
 
The property, built in 1888, has been used as a three-storey office building, although parts are four-storey. It extends to 38,414 sqft and is located in 1.23 acres in a desirable part of town.
 
Mr Shaw added: "It's a fantastic building with an interesting history. It used to be an old Greenall Whitley maltings and has been fully refurbished to offices.

“As well as planning permission for conversion to 34 apartments, it has fantastic car parking with more than 50 spaces, and it is in a lovely, established area of Shrewsbury. It really is a striking building – and the views are magnificent.”