Property firm sells three retail properties for over £1 million to Midlands-based family investment group
Commercial property firm Bond Wolfe has completed sale on a trio of properties for over £1 million, including two in Walsall.
The three retail properties were placed under offer within a week of them being placed on the market, and were acquired by a Midlands-based family investment firm.
The family investment firm acquired 1 Park Street, Walsall for £405,000, 82-83 Walsall Street for £250,000, and 1100 Warwick Road, Acocks Green, Birmingham for £350,000.
James Mattin, managing director of Bond Wolfe, said: “We are delighted to continue our run of investment sales in both Walsall and Acocks Green where we are seeing a strong appetite from local and regional investors for retail opportunities.
“All three properties went under offer shortly after being released, which is further testament to the resilience of the investment market despite challenging economic times.”
A town centre freehold investment opportunity, 1 Park Street, Walsall, is a 7,353 square feet purpose-built corner retail unit which is let to Santander UK plc until July 2027 at a passing rental of £42,125 per annum.
The double fronted unit at 82-83 Bradford Street, Walsall, provides a total of 4,016 square feet and is let to Shoe Zone Retail Ltd until December 2027 at a passing rental of £20,000 per annum.
In Acocks Green, 1100 Warwick Road is a 2,906 square feet unit which is also let to Shoe Zone on a new five year lease at £32,000 per annum.
The Midlands-based investor firm was represented by Coventry law firm Band Hutton Button and West Bromwich law firm Clark Brookes Turner Carey acted for the sellers.
