Commercial property agent Bond Wolfe has sold a landmark High Street retail parade in West Bromwich in the latest of a series of high profile freehold sales achieved by the company this year.
Formerly occupied by Allied Carpets. the property at 294-310 High Street, West Bromwich, was previously purchased by Real Estate Investors plc (REI) in Birmingham and has now been sold to a private investor for an undisclosed sum.
Advised by Bond Wolfe, REI split the property into five retail units, which are now fully let to Furniture World, Samuel & Co, KSS Leisure Ltd, Tam Sklep Express and Karczma u Grzegorza.
The total property of 25,085 sq ft over two floors currently produces £145,000 per annum in rent.
James Mattin, managing partner at Bond Wolfe, said: “This a multi-let, prominent retail parade and its sale is indicative of what a lot of regional investors are looking to purchase.
“We are seeing strong demand from buyers for regional income producing assets and this sale is a prime example of that.”
CBTC Solicitors acted for Rei plc and HS Lawyers acted for the purchaser.
Other high profile deals concluded by Bond Wolfe this year include Society House, the former West Bromwich Building Society headquarters at 374 High Street, West Bromwich, Metro Court (the former Yellow Pages Headquarters), and the ex-Kays catalogue building known as K2 in Worcester.