Redditch town centre car park investment launched at £2.45 million

We have brought to market a prominent town centre car park investment in Redditch, offering strong income alongside future asset management and development potential.

Quadrant Car Park, located on Alcester Street in Redditch town centre, is being offered for offers based on £2,450,000.

The freehold investment is currently let to Bank Parking Ltd and Swarco Smart Charging Ltd, producing a projected rental income for 2026 of £266,598 per annum, reflecting an initial yield of approximately 8%, after service charges and purchaser costs.

Our managing director, James Mattin, said:

“Following a number of successful investment transactions in the area, we are delighted to bring this substantial town centre car park investment to the market.

“This is a strong income-producing asset with the added benefit of future asset management and potential redevelopment opportunities.

“With parking revenues continuing to increase, the property offers an attractive opportunity either as a standalone passive investment or as an addition to a wider portfolio.”

The site extends to approximately 0.9 acres and provides around 140 parking spaces.

It occupies a strategic position close to the Kingfisher Shopping Centre, one of the region’s busiest retail destinations, where occupiers include H&M, JD Sports, Boots, Marks & Spencer, New Look, Next and Primark. The shopping centre attracts more than 200,000 visitors each week.

Alcester Street also links directly to both the Palace Theatre and Trafford Retail Park, home to retailers including Aldi and Iceland.

James Mattin added:

“There are several potential asset management opportunities available, including adjustments to parking tariffs and the possibility of exploring alternative use or residential redevelopment potential, subject to planning permission.”

Redditch, in north-east Worcestershire, was designated a New Town in 1964 and is located approximately 18 miles south of Birmingham city centre.

The town benefits from excellent transport links, including access to Junction 2 of the M42 motorway, approximately 4.5 miles away, while Birmingham Airport lies around 19 miles to the north.

Redditch railway station also provides regular direct services into Birmingham city centre, with journey times from approximately 35 minutes.

For further details, contact James Mattin on 0121 525 0600.