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.

Sterling Park, Woodgate Valley, Birmingham

Bond Wolfe was instructed to market the multi-tenanted Sterling Park on behalf of a private investor who was looking to sell their freehold office investment property.

Sterling Park comprises a two-storey office building measuring 26,015 sq ft, and was let to a variety of tenants, producing an annual income of £121,140 per annum. We took a bespoke approach to marketing the property, seeking a local investor that would be more hands-on than one further afield – for a mutually beneficial relationship between landlord and tenant.

In order to maximise the opportunity’s value and appeal, we handled and drove the lease renewal of some of the existing tenants. This ultimately secured the sale to the buyer, who purchased at a price of £1,200,000, representing a net initial yield of 8.66 %.

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%.