A freehold office and leisure investment in Sutton Coldfield has been sold for close to £1.6 million.
Lingfield Assets LLP has disposed of 21 to 23A Birmingham Road to a private family trust.
The building totals 11,822 sq ft. The ground floor is let to Loungers on a 15-year lease while a further retail unit is let to a local coffee shop. Two first-floor offices are also let on shorter leases.
The total income is £126,500 per annum reflecting a net yield of 7.5 per cent.
Shortland Penn + Moore (SP+M) acted for Lingfield Assets LLP while the purchaser represented themselves.
David Allen, of SP+M, said: “The investment market in the West Midlands is pretty robust and this deal further underlines that.”
