A Birmingham commercial and residential investment opportunity has been snapped up – proof that the sub-£1 million property market remains strong.
In a deal brokered by Bond Wolfe, a local investor has paid £425,000 for 882-884 Bristol Road South, Northfield.
Comprising a ground floor retail unit occupied by Evans Estate Agents, with four studio apartments above, net income totals £36,996 per annum representing a net initial yield of 8.34 per cent.
Bond Wolfe managing partner James Mattin said: “Despite the uncertainty caused by Brexit and the recent General Election result, appetite for secondary investment stock remains strong.
“We continue to see a hive of activity in the sub-£1 million investment market, and all the indications are that this will continue.
“Fully let, freehold properties such as this are proving particularly attractive.”
The building is in a prominent location in Northfield surrounded by household names Aldi, William Hill, KFC and Sainsburys.
