Another private investor has swooped on a prime West Midlands property investment with the latest to attract national attention being Bridge House, Walsall, which has been snapped up for an undisclosed sum.
On the market with a guide price of £1.75 million, commercial agents Bond Wolfe have sold the freehold leisure, court and office investment which has a current gross rent of £202,143 per annum.
With a prominent town centre location, the 75,658 sq ft building is home to tenants which include Walsall County Court and Walsall Family Court. Currently, 29,336 sq ft is vacant.
James Mattin, chief executive of Bond Wolfe, said: “This is another Black Country success story. The building has development potential, subject to planning permission, which undoubtedly added to its appeal.
“We are seeing increased interest in solid West Midlands commercial property assets as they offer returns which are hard to achieve in other parts of the UK.”
Solicitors Clark Brookes Turner Cary acted for the seller and the purchaser was advised by law firm Sehgal & Co.
