Bond Wolfe has sold a prime town centre freehold retail investment in Walsall for £1.1 million and has a large pool of cash buyers looking for similar opportunities.
A private investor has acquired 59-61 Park Street, Walsall, a substantial double fronted property extending to 12,689 sq ft which is let to Superdrug Stores plc until June 2028.
The property is let in its entirety on an annual rent of £110,900 on a renewed lease for a term of five years from June 2023, with a break clause in June 2026.
James Mattin, managing director of Bond Wolfe, said: “We are delighted to report this sale, demonstrating our continuing success selling retail opportunities in Walsall town centre.
“We continue to see strong demand from the private investor market for town centre retail assets, and this further demonstrates the robust confidence in the retail market.”
He added: “We have a large pool of cash buyers looking for similar opportunities, and we would urge any sellers to contact us to discuss a potential sale of their property.”
Pickfords Solicitors in Sutton Coldfield advised the purchaser and Clark Brookes Turner Cary Solicitors in West Bromwich acted for the purchaser.
