Black Country property agents Bond Wolfe are to expand their commercial agency business.
The announcement comes amid a string of deals and new instructions.
James Mattin, managing partner, said: “The move follows continued demand from previous clients and local commercial property owners.
“Historically, we have focused on the sales and lettings of properties within our in-house investment portfolios. However our in-depth knowledge of the local market in Sandwell and the Black Country built up over 30 years has enabled us to negotiate sales and lettings on a wide range of properties, including vacant retail, office and industrial premises as well as investment properties throughout the region.
“Our core business of office and retail lettings remains robust and this continues to grow as we take on more client work.
“There will be more emphasis on industrial units and our property management department will also grow.”
Mr Mattin said Bond Wolfe would be looking to recruit additional fee earners in the New Year.
The leisure sector – under pressure nationwide in the present economic climate – has featured prominently in recent weeks.
A former pub, The Ironmaster at Bilston, has been sold for £125,000 for residential development. It follows numerous break-ins while it has lain empty.
“This will be a huge relief to local residents,” said Mr Mattin. “Hopefully when houses are built on the site it will prove a big improvement.”
A sale has also been agreed on another former pub, the Rising Sun in West Bromwich, and the firm is about to take instructions on a former restaurant and night club in the town.
Bond Wolfe has also picked up the Heera Banqueting Suite, Woden Road, Wolverhampton, which lies close to the city centre and has a rental guide of £50,000 pa. It is described as a substantial banqueting and function venue with a bar capable of holding 200 people, lounge (60 people) and first floor function room (400 people). “It has a large car park and is ready to trade immediately,” said Mr Mattin.
In other sectors, particular success has been Units Two and Three, a former car repair and MOT centre, at Sams Lane, West Bromwich, where multiple offers on the property saw it sold within two weeks of going on the market.
Indeed, so impressed was the owner of Unit 1 Sams Lane that he gave Bond Wolfe the instruction to sell the former 7,500 sq ft used car parts/industrial warehouse and offices, which is also now under offer.
Sales have also been agreed on a development site with planning for 14 houses in Birmingham, a retail investment in Oldbury and a development site in Handsworth.
Other new instructions include 81 Great Bridge, Tipton, a freehold mobile phone centre business for sale, 60 per cent gross profit margin, turnover of £1,000 per week, excellent scope for expansion, guide price £125,000; 1115 Bristol Road South, Northfield, Birmingham, a freehold retail investment opportunity with a gross annual income £10,000 per annum, guide price £175,000; Crossroads House, Kidderminster Road, Dodford, near Bromsgrove, a substantial purpose-built commercial property with a freehold price of £695,000; and 273 Tat Bank Road, Oldbury, a commercial freehold investment opportunity on the market at £195,000.