High-yielding Walsall town centre office investment launched at £1.45 million

We have brought to market a prominent seven-storey office investment in the heart of Walsall town centre, offering a substantial existing income and a net initial yield of 22.26%.

Townend House occupies a landmark position above Park Place Shopping Centre and is being offered for offers based on £1.45 million.

The 26,813 sq ft property combines traditional multi-let office accommodation with a substantial number of smaller, flexible serviced office suites, providing a diversified income stream from a range of occupiers.

The building currently produces rental income of £343,329 per annum, with an estimated rental value of £434,347 per annum when fully let, providing investors with further potential to increase income.

James Mattin, Managing Director at Bond Wolfe, said:

“Townend House represents a high-yielding investment opportunity in a prominent and well-connected town centre location.

“The property has benefited from a significant programme of refurbishment and improvement since 2005, including the replacement of all 417 windows, lift modernisation, a new Building Management System and refurbishment of the WCs and common areas.

“Common area and WC lighting has also been upgraded to sensor-operated LED lighting, along with the majority of the lettable office accommodation.”

Further investment in the property is continuing, with the replacement of all six gas boilers due to be completed in early September 2026.

The accommodation is let on two distinct bases. Approximately two and a half floors are occupied under traditional leases with service charge provisions, with tenants including Everyday Loans, Waldrons Solicitors and Ooom Global Ltd.

Additional income is generated from rooftop lettings to CTIL and EE, together with car parking licences.

The remaining accommodation is predominantly operated as serviced offices on inclusive 12-month leases, with rents including all outgoings other than business rates and broadband.

This flexible model provides the opportunity to attract a broad range of businesses seeking shorter-term, serviced accommodation while complementing the longer-term income generated by the building’s traditional office tenants.

James Mattin added:

“The combination of established tenants and flexible serviced offices provides a diversified income profile, while the gap between the current passing rent and estimated rental value offers further asset management potential.

“Offers based on £1.45 million are sought for the long leasehold interest. A purchase at this level reflects a net initial yield of 22.26%, after the usual purchaser’s costs and ground rents.”

Townend House is held on a long leasehold for a term of 99 years from 30 December 1970, expiring on 27 December 2069, at a ground rent of £20,000 per annum.

The associated car park is held on identical lease terms at a ground rent of £10,250 per annum.

Situated in the heart of Walsall town centre, the property benefits from immediate access to the town’s retail, leisure and public transport amenities, together with convenient connections to the wider Black Country and motorway network.

Further details are available from James Mattin by emailing jmattin@bondwolfe.com or calling 0121 525 0600.