Wolverhampton city centre office block sold for £2.8 million
An office block in Wolverhampton city centre has been sold in a deal worth £2.8 million.
The six-storey and 42,000 sq ft Waterloo Court building has been bought by a private investor.
The building is on the corner of Waterloo Road and the city's ring road, a few hundred metres from Molineux.
It is currently 80 per cent let, with tenants including Capital Professional, the Leonard Cheshire charity and the Ministry of Housing, Communities and Local Government, producing £296,322 annual rent.
James Mattin, managing director at estate agents Bond Wolfe who sold the building, said the private investor planed to drive the occupancy further and regear a number of existing leases.
“Having managed this asset for a number of years, we have seen Waterloo Court perform well both during the post 2008 credit crunch and throughout the recent pandemic and the uncertainty created by Brexit, so it is no wonder that there was a willing buyer.
“Anchored by some solid, long term tenants, Waterloo Court is centrally located with good access to local amenities and transport links, which ticks a lot of boxes for tenants in the current climate," he added."
