Worcestershire commercial property consultancy GJS Dillon has sold a mixed use investment in Bromsgrove’s prime retail pitch.
Acting on behalf of a private client, John Dillon, managing director of GJS Dillon, which has offices in Bromsgrove, Droitwich and Worcester, sold Grosvenor House, 123-129 High Street, Bromsgrove, Worcestershire, B61 8DA, a well secured freehold retail and office investment, to Birmingham & Regional Properties Limited (BRP) for £1.3 million.
Grosvenor House is a 10,148 sq ft purpose-built retail parade of four ground floor shop units with first and second floor office accommodation, car parking and loading facilities, generating an annual income of £128,338.
It is situated in a prime position to the northern end of Bromsgrove High Street, close to Argos, Halifax Building Society, Specsavers, Subway, NatWest Bank, Burtons/Dorothy Perkins, M & Co and Bromsgrove’s main High Street Post Office.
The whole of the centre of Bromsgrove has benefited from a recent investment and regeneration programme, including the development of a Waitrose Supermarket and an Extra Care Village.
Charles London, managing director of BRP, says: “Grosvenor House is an ideal addition to our growing portfolio. The property is located in a prime pitch and offers excellent opportunities for further asset management. We are delighted to be investing in the town of Bromsgrove which is currently undergoing significant regeneration and the company will look to acquire similar opportunities in the coming months.”
Mr Dillon says: “As a well-positioned investment property with some strong covenants, Grosvenor House attracted good interest from local and national investors. The new owners will benefit from the recent improvements to Bromsgrove High Street, as well as the town’s on-going attraction as one of the best places to live in the West Midlands.”