Commercial property agency Bond Wolfe has sold a prime retail and residential investment in Bromsgrove High Street to a private investor for £925,000.
The property at 62-28 High Street includes three ground floor shops with two apartments above.
The site in a popular town centre location is fully let with tenants including Boots Opticians and Smart Ideas producing rental income of £85,518 per annum.
James Mattin, managing director agency at Bond Wolfe, said: “We are delighted to have concluded this town centre investment sale. This is further proof that mixed use investment opportunities anchored by solid high street rental income, continue to attract private investor money.”
The High Street in Bromsgrove has recently undergone a comprehensive programme of improvement works forming part of a £100 million town centre regeneration project which included a new health centre, library, police and fire stations.
The High Street has been resurfaced with natural stone and granite paving, new lighting, trees and street furniture.
West Bromwich law firm Clark Brookes Turner Cary acted for the seller with solicitors Clarke Willmott in Taunton acting for the buyer.
Mr Mattin added that the sale follows off the back of the sale of 75 Ludford Road in Bartley Green for £250,000 on behalf of Birmingham Association for Mental Health. The property, which was formerly an eight bedroom care home, will now be repurposed for specialist housing provision.
