Investor snaps up historic office building
A Grade II-listed office building in Staffordshire has changed hands in a deal brokered by Burley Browne.
The acquisition in Lichfield demonstrates that good quality office properties in prime locations are still attractive to investors despite the current Covid-19 economic crisis and need for employees to work from home.
Support Staffordshire appointed Burley Browne to market Mansell House, in Bore Street, which comprises a three-storey Georgian building, with modern extension at the rear, a total office space of 3,380 sq ft, car parking, and cellar space.
The vacant building has been acquired for the full asking price of £595,000 by a private investor who plans to refurbish the property.
Burley Browne has been instructed to re-market the property for lettings of retail, leisure and office use.
Associate director Ben Nicholson said: “Lichfield is very popular with investors and we were confident that significant interest could be generated. The marketing followed the successful disposal of 28 – 30 Bore Street, which again created competing bids, and Garrick House on Queen Street, another Grade II Listed office building.
“Demand for freeholds in Lichfield is really strong and, on the few occasions they become available, there are always healthy numbers of interested parties declaring an interest. These sales clearly demonstrate that, despite the obvious concerns surrounding Covid-19 and the economic outlook, the freehold office market is remarkably healthy.”
