Birmingham Office sold in £1.2million deal

Posted on 15 June, 2018 by Bailey Clarke

Commercial estate agents Bond Wolfe have just completed the sale a million pound deal, as interest from investors in the Midlands area continues to grow in 2018. 

The property is located just seven miles south west of Birmingham City centre at Sterling Park, Clapgate Lane, Woodgate Valley. It is 26,015 sq ft of two stories of modern office space, which also includes ample parking space.  

It was sold by Holloway Properties to Cravendale Properties for £1.2million with a net yield of 9.5%.  

Commercial agents Bond Wolfe managing partner James Martin has this to say: 

“This is a good example of the investment stock that Bond Wolfe has had great success selling in 2018.” 

“We are experiencing major interest in multi-let, strong secondary locations, with good transport links.” 

“This kind of yield represents good value for investors looking for a return on their investments.” 

The property at sterling park commands a rent in total per annum is £121,140 with just one 150 sq ft office space currently available.

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