Overheating London market leads property firm to Worcestershire

Ben Truslove

A LONDON-based property company has announced a major investment in Kidderminster as it looks to boost its portfolio outside the overheating property market in the capital.
 
B&B Property Lettings and Management has acquired a 46-unit building at the junction of Comberton Road and Chester Road North for an undisclosed but substantial sum.
 
Currently being progressively refurbished, it comprises one bedroom flats and bedsits.
 
Most have tenants in place with around half a dozen available for occupation.
 
B&B Property Lettings and Management is run by Sanjiv Bhalla, a former IT professional, and his accountant brother Kuldev.
 
With a 30-year background in retail, they recently sold their kitchen and bathroom design and fitting business to switch into property investment.
 
Sanjiv said: “With London so expensive we began looking outside the capital as far as the Midlands and, given the size and income potential, this was the best thing we saw.
 
“It matched our ambitions and is proving a good start in what is a new sector for us.”
 
It also has the advantage of the site being close to the town centre and railway station.
 
“It is a well-placed location and that helps in attracting tenants,” said Sanjiv.
 
Redditch-based John Truslove managed the sale on behalf of a private client.
 
Ben Truslove, a director of John Truslove, said: “All parties were happy with the deal.
 
“The brothers have been doing some internal remedial works – a bit of a makeover – but the building itself is in good order, well positioned and with plenty of on-site car parking.”

Click here to sign up to receive our new South West business news...
Close