Blue Marble Asset Management (Blue Marble) has sold the freehold of a modern self-contained HQ office building in Tamworth for well in excess of the asking price, representing a net initial yield of 6.6%.
Acting on behalf of private clients, Tim Matthews, Chief Executive of Birmingham-based real estate asset management company Blue Marble, sold the freehold investment in Tamworth House, Ventura Park Road, Tamworth, B78 3LY, a 15,496 sq ft office building, presently used as a clinic, to an unnamed property company.
Mr Matthews says: “This is an excellent deal, where we significantly exceeded the asking price, with a number of parties interested in this good income producing investment. We originally acquired this building for the tenant company some five years ago, so we are delighted to have sold on the freehold investment.”
Based in Birmingham, Blue Marble Asset Management is a real estate asset management specialist which presently has more than £100 million of property assets under management. It works for a select range of clients including investment businesses, high net worth individuals, trusts and family offices. Its business is based on taking a holistic view of each of its property investments.