West Bromwich parade is sold
Commercial property agent Bond Wolfe has sold a High Street parade of shops in West Bromwich.
Formerly occupied by Allied Carpets. the property at 294-310 High Stree was previously purchased by Real Estate Investors in Birmingham and has now been sold to a private investor for an undisclosed sum.
REI split the property into five retail units, which are now fully let to Furniture World, Samuel & Co, KSS Leisure, Tam Sklep Express and Karczma u Grzegorza.
The total property of 25,085 sq ft over two floors currently produces £145,000 in annual rent.
The sale is the latest of a series of high profile freehold sales achieved by the company this year.
James Mattin, managing partner at Bond Wolfe, said: “This a multi-let, prominent retail parade and its sale is indicative of what a lot of regional investors are looking to purchase.
“We are seeing strong demand from buyers for regional income-producing assets and this sale is a prime example of that.”
Other high profile deals concluded by Bond Wolfe this year include Society House, the former West Bromwich Building Society headquarters at 374 High Street, West Bromwich, Metro Court (the former Yellow Pages headquarters), and the ex-Kays catalogue building known as K2 in Worcester.
