Investors seeking real returns from bricks and mortar

Bond Wolfe Commercial has sold a freehold block of five converted apartments in central Walsall to a private investor for £345,000.

The property at 31 Bradford Street, Walsall, occupies a prominent corner position on Bradford Street and Caldmore Road.

The 3 two-bedroom flats and 1 three-bedroom flat are let to a housing provider producing £35,000 a year on a seven year lease.

James Mattin, chief executive of Bond Wolfe Commercial, said: “We are delighted to have concluded this sale after a competitive bidding process. Apartment conversions are popular with investors right now, and this property provides the buyer with a relatively hands-off, hassle-free return.”

The deal comes as Bond Wolfe Commercial has confirmed a surge in interest in property investments in the Black Country.

“Our investment clients, faced with low interest rates and a poor return on their savings, are looking to the traditional haven of bricks and mortar to find a real return on their money,” said Mr Mattin.

“Whether this is commercial, residential or mixed use, we are keen to speak to those looking to capitalise on a strong market and sell property both in the Black Country and the wider West Midlands.”