A Black Country leisure and commercial complex has changed hands in a £975,000 deal brokered by Bond Wolfe.
Old Hall Industrial Estate in Bloxwich was snapped up within seven days of going on the market.
Fully let and producing in excess of £150,000 per annum, the purchase price represents a net yield of 14.7 per cent.
James Mattin, Bond Wolfe managing partner, said: “We have seen a sudden re-emergence of buyers looking for industrial investment opportunities in the Black Country, which is indicative of the market growth throughout the year across all sectors.
“This deal is further evidence of our increasing presence in the industrial sector. Indeed, we are about to commence marketing on two further industrial investment sales, both with asking prices in excess of £1 million.”
Old Hall Industrial Estate takes in a bowling alley and snooker hall with leisure facilities including bar, restaurant, function room and amusements area. There is a total of 15 industrial units in addition to the leisure facilities, a site of two acres in total.
Anchor tenant is MFA Leisure on a 25 year lease.
Two other recent Bond Wolfe deals include the £30,000 sale of retail investment, 74a Grange Road, Dudley, a 310 sq ft shop currently run as a hair and beauty salon, and the letting of Unit 4, The Farley Centre, West Bromwich, on a new 15 year lease.
“It is currently undergoing a full refurbishment and will be trading as the Brittania Cafe as demand for restaurant premises in the town continues to grow,” said Mr Mattin.
The Farley Centre is situated at the southern end of the pedestrianised High Street and includes occupiers such as Farmfoods and the British Heart Foundation.