Bond Wolfe sells TUI Holidays retail unit on Birmingham high street for £280,000
A retail unit hosting a popular branch of TUI Holidays on a Birmingham high street has been sold to a private investor for £280,000.
The property at 10 Alcester Road is producing an annual rent of £21,000 a year from TUI on a lease that runs until November 2026.
James Mattin, our Managing Director, explained that based on the purchase price the TUI rental income equated to a net initial yield of 7.28%.
Mr Mattin said: “10 Alcester Road is a prominent mid-parade retail unit which benefits from excellent levels of passing trade.
“This property is just the latest is a string of recent and pending deals that we are making on what has become a thriving commercial property area in Kings Heath.”
JR Jones Solicitors provided legal advice to the buyer.