Commercial property agents Siddall Jones have acquired a high yielding Halesowen office investment on behalf of a private Birmingham investor.
The 21,139 sq ft property, the former Mucklow headquarters, has been purchased for £2,610,000, from A&J Mucklow (Investments) Ltd.
Fully let to tenants including the Secretary of State for Housing, Communities & Local Government and solicitors PM Petherbridge, the building is also the regional headquarters for Barratt Homes.
The freehold three storey office block has a current total rental income of £251,437 per annum and comes with 72 car parking spaces.
Edward Siddall-Jones, managing director of Siddall Jones, said: “This significant investment by our client is a clear indication of continuing strong demand for good quality office buildings let under strong covenants that provide long term value and the opportunity to enhance income in the future.
“Whitehall House’s attraction is enhanced by its prominent position at the roundabout junction of the A458 and A459 to the south of Halesowen town centre, linking to junction 3 of the M5 and the national motorway network.”
A&J Mucklow (Investments) Ltd was advised by law firm Gowling WLG and property agent Atlas Real Estate. Imperial Law Solicitors of Wolverhampton acted for the purchaser.