Worcestershire’s leading commercial property agents John Truslove have sold a landmark office development in Bromsgrove town centre for £2.45 million.
St Johns House was sold off-market on behalf of Quartz Investments in Stratford-upon-Avon to a charitable foundation.
The freehold building is fully let to Clay Knox Accountants on a new eight year term from January 2022 at a rental of £179,000 per annum – a net yield of 7%.
Ben Truslove, joint managing director of John Truslove, said: “St Johns House is a purpose-built office development over three floors 14,000 sq ft.
“Investment opportunities such as this in north Worcestershire do not come along every day, so we were delighted to be able to introduce St Johns House to the buyer. The appetite for property investment remains strong and we are keen to bring similar properties to an active and eager market.”
Veale Wasbrough Vizards LLP acted for the purchaser. Squire Patton Boggs acted for Quartz Investments. KWB were joint agents with John Truslove.
John Truslove was named Most Active Agent in Worcestershire for two years in a row in 2020 and 2021 in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.
