Marketing firm dabbles in property market with £2m+ purchases
Buzz Communications – a specialist in strategic marketing for small businesses – has acquired two retail parades in Northwich and Alsager for more than £2m.
Brimstone Parade, Cheshire Business Park, Northwich was bought for £1.3m from Commercial Development Projects of Huddersfield.
The fully-let local parade of three retail units, comprising a total of 6,000sq ft, is let to the Co-op, Barnardo’s and Subway. It currently produces an annual income of £93,000 a year reflecting a net initial yield of 6.25%.
Located within the Lostock triangle, the community shopping centre serves a significant residential market as well as those working at the adjacent business park.
A town centre parade of four retail shops with a flat above at 56-60A Sandbach Road, Alsager was purchased for £720,000 from a private investor.
The investment provides the potential for income growth through proactive management. Two of the retail outlets are let to IQ Therapies and Kraft Works, a bar specialising in a range of craft beers.
The remaining two are being reconfigured prior to re-letting. It currently produces an annual rental income of £51,000 a year and the flat will be let for £600 a month.
Charles Murray, managing director, Regional Property Solutions which acted for Buzz Communications, said: “The latest acquisitions make it a total of four in the last 12 months that we have negotiated for Buzz Communications. These have been added to its growing property portfolio that we manage.
“At Sandbach Road, Alsager, we are actively surrendering the leases on two shop units to make one large one, to tap into the demand in this expanding south Cheshire town”.
Cushman & Wakefield acted for Commercial Development Projects in the sale of Brimstone Parade, Northwich and Metis Real Estate acted jointly with Regional Property Solutions in the acquisition.
