Student Halls, Selly Oak, Birmingham

Bond Wolfe have successfully sold what is thought to be one of the largest student residential investment sales across the West Midlands in the last year.

The property at 18-20 Dawlish Road in Selly Oak, Birmingham, has been sold for an undisclosed sum off a quoting guide price of £14 million to an existing student housing operator.

The purpose-built student halls contain 129 bedrooms over three blocks, 122 of them with ensuite toilet and shower rooms, and five of them described as “premium studios”.

Telecom House, Church Street, Wolverhampton

After a competitive tender process, Bond Wolfe was appointed to sell Telecom House in Wolverhampton city centre on behalf of the LPA Receiver.

This vacant property, formerly the main offices for BT, extends to 84,876 sq ft over two wings and five floors, and includes a 70-space car park. The property had received consent for conversion to 156 apartments, this enhanced the excellent investment opportunity of this commercial property sale. We placed Telecom House on the market and supported it with a successful digital marketing campaign.

Subsequently, the property received numerous offers and so we conducted two series of sealed bids, to achieve maximum sale value for the asset. Following this process, the property was sold to Empire Property Concepts for £4,250,000 – well above the original asking price.

69 Dudley Street, West Bromwich

Bond Wolfe was instructed to help sell 69 Dudley Street as a vacant property on behalf of the owner. We recommended that the building, previously occupied by Blockbuster Video, be let to a new occupier prior to marketing the property for sale.

We then secured a letting of the property to The Salvation Army on a 10-year lease at an annual rent of £37,500, enhancing the opportunity in the eyes of a potential buyer for the investment.

Following a short marketing campaign, the property was sold to Belwell Investments Ltd for £510,000, representing a net initial yield of 7%.