Demand for Birmingham investments increases as sales top £115m
Commercial property agents Bond Wolfe have sold a prominent Birmingham retail parade for £4.7 million as demand for Birmingham investments increases.
The seven properties at 120-138 High Street, Kings Heath, have a combined annual income of £395,350, representing a net yield of 7.89%.
The tenants include household names such as Wilko, Greggs, Specsavers, Lloyds Pharmacy, Chadwick Food, Scrivens and Bon Marche.
The properties have been bought by investment company H & S Alliance from an undisclosed seller.
James Mattin, managing director agency at Bond Wolfe, said: “We are delighted to announce the sale of the prominent retail parade on Kings Heath High Street. “Good covenants in strong secondary retail locations are still proving attractive to investors, despite the challenging times faced within the debt market.
“We had a strong interest in this parade and the sale follows on from numerous retail investment sales we have transacted throughout 2022.” Clark Brookes Turner Carey Solicitors of West Bromwich acted for the seller, with ESN Solicitors in Erdington, Birmingham, advising the purchaser.
The successful sale comes off the back of Bond Wolfe’s other recent investment sales including the substantial sale of Douper Hall in Selly Oak, a McDonalds anchored sale in Leamington Spa, a portfolio of retail investments in Acocks Green, Birmingham, and most recently Landchard House in West Bromwich for £2.75 million.
Bond Wolfe’s combined investment sales have exceeded £115 million so far in 2022.