The Worshipful Company of Dyers, one of the Livery Companies of the City of London, has acquired Remus II, a 11,947 sq ft office building at Solihull Business Park, for £2.575 million.
Knight Frank advised a syndicate of private vendors on the sale, achieving more than £270,000 over the asking price and a net initial yield of 6.47 per cent.
Remus II was built in 2008 and is let to BDW Trading, part of house builder Barratt Developments plc, until 2022. The two-storey building boasts 49 car spaces.
Ben Wisher, an associate in the capital markets team at Knight Frank, said: “The M42 office market enjoyed record take-up in 2015, hence interest in this freehold product, let to a good tenant on a long lease, was extremely keen.”
Taylor Wilcox advised the purchaser.