Commercial property agents John Truslove are celebrating a double deal for West Midlands property company Ironwood Investments.
The Redditch-based agents have advised on Bromsgrove and Kidderminster transactions completed by the commercial and residential property investment and development group whose interests include industrial, office, retail, residential and student accommodation.
“Ironwood Investments are a relatively new client and we were pleased to come up trumps for them,” said Ben Truslove, a John Truslove director.
The Bromsgrove deal was for 3 West Court on the Saxon Business Park, a modern 1,424 sq fit office building.
It was acquired for a six figure sum by an investment fund at a sub 8% yield.
John Truslove achieved the full asking price with the deal completing just four months after receiving instructions.
The Kidderminster transaction, involved a residential development opportunity above a retail unit on Worcester Street.
The three storey building is occupied on the ground floor, fronting onto the road, by Connells Estate Agents who hold a long lease on 885 sq ft of floor space.
Architects instructed by Ironwood Investments had drawn up plans for the vacant upper floor totalling 2,596 sq ft, with a view to converting them to four 2-bedroom flats.
The property was snapped up by Hockley Heath firm Krundil Developments.
Mr Truslove said: “This had been on the market for over a year with another firm.
“We had a deal agreed in six weeks and it was sold within three months.
“This is when local knowledge pays off. Both were on our ‘patch’, both had proved difficult to progress … we can deliver where other agents struggle.”
Ironwood Investments director Anthony Williams said: “We were impressed.
“Ben Truslove worked hard to market the properties with excellent results and in quick fire time.
“Pro-active agents with good contacts can really make a difference.
“We are always looking around for good opportunities – hopefully we can reinvest some of the money accordingly.”