Property investor grows portfolio with acquisition of fertility clinic

Tamworth House
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Property investors have acquired a large office building in Staffordshire in a deal brokered in Birmingham.

The unnamed investor has purchased the freehold of Tamworth House after its former owner opted to dispose of the building five years after originally acquiring it.

Tamworth House, which is a 15,496 sq ft self-contained office building located on Ventura Park Road, is currently being used as a fertility clinic by IVI Midland, formerly known as Midland Fertility Services, .

Birmingham-based Blue Marble Asset Management, which brokered the undisclosed deal, said there had been significant interest in the property.

The eventual deal was completed for well in excess of the asking price, representing a net initial yield of 6.6%.

Tim Matthews, chief executive of Blue Marble, completed the deal on behalf of a private client.

He said: “This is an excellent deal, where we significantly exceeded the asking price, with a number of parties interested in this good income producing investment. We originally acquired this building for the tenant company some five years ago, so we are delighted to have sold on the freehold investment.”

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