Two industrial units in Erdington have been sold for well in excess of half a million pounds.
The Birmingham office of commercial property agents SP+M advised Wulstan Capital on the purchase of units 2 & 3 on the Holly Park Industrial Estate for £577,000.
A unit of 5,673 sq ft is let to CMA Coldform until November 2021 and a unit of 3,633 sq ft is let to Balfour Beatty Group until February 2017. They produce a total rental income of £46,610 per annum and the net yield was 7.5 per cent.
Franck-Steier Price acted for the sellers – Royal Ordnance Pension Scheme (Crown Service) care of CBRE Global Investors.
David Allen, of SP+M, said: “The industrial investment market in the West Midlands remains strong and this deal is a further example of that.”