Property investment and development company, Goold Estates has completed the sale of a fully let town centre office building in the West Midlands.
Forster House in Hatherton Road, Walsall has been sold to a private investor through Lambert Smith Hampton’s online property trading platform, 574.
The sale of the detached four storey office building, which has been owned by Goold Estates since the 1990s, was completed prior to the property’s online auction date.
Forster House comprises a net internal area of c.9,709 sq ft, including a self-contained office suite and small retail unit on the ground floor, with 35 car parking spaces to the front and rear.
The property is predominantly let to recruitment agency Extra Personnel Limited which has occupied the building as its headquarters for more than 20 years.
Anthony Williams, property director at Goold Estates, said: “The sale of Forster House follows the disposal of several legacy properties in recent years, allowing us to focus on a number of exciting refurbishment, development and acquisition opportunities. This was the first occasion we have used an online facility like 574 to sell one of our properties and we are pleased to have concluded a deal prior to auction.”
Max Mason, head of sales at Lambert Smith Hampton who acted on behalf of Goold Estates said: “The property was sold following a hybrid marketing campaign, this new approach delivers the certainty of an auction contract with the flexibility of private treaty. In this instance this has allowed us to deliver a certain and secure result at an excellent price.”