Briefs: Halesowen warehouse bought; Park Regis; SpaMedica
A retail warehouse on Long Lane in Halesowen has been bought by a private overseas investor for £1.625m.
The warehouse comprises 21,128 sq ft and is currently let to Towsure Products until May 2022, and represents an initial net yield of 8.6%.
The warehouse was owned by a local property company before its sale, which was managed by David Allen of Holt Commercial and Martin Bloomer of Bulley’s.
Allen said: “We are very pleased to secure this sale. There was very strong interest from a number of private investors and it shows there is still plenty of life in the market.”
The sale is further evidence of the strength of the commercial property market in the West Midlands, and it follows a number of similar deals over recent months.
Allen added: “It represents a very good result all round and shows that there are lots of investors still looking to make the most of the strength of the market in this region.”
*****
The Park Regis hotel in Birmingham city centre has unveiled its £850,000 investment on an events and conference space in place of Japanese restaurant Rofuto.
The extensive refurbishment of the hotel’s 16th floor was fitted out by Tang interiors, which is part of Colmore Tang Construction.
Mark Payne, general manager at Park Regis, said: “We could not be happier with our new level 16, offering stunning, flexible spaces with incredible 360 degree views of the city. We have created something unique in the city’s conferencing and events portfolio and our feedback already suggests hat it is something that both corporate planners and private individuals are looking for.”
The new events space includes the “Sky’ loft which can accommodate up to 100 guests and the bigger ‘Sky Gallery’ that can host up to 300 guests.
*****
SpaMedica, a specialist provider of eye healthcare services, including cataract operations, and other sight correction services to the NHS, has opened a new hospital at Calthorpe Road.
SpaMedica’s chief executive, Anil Pitalia said: “We are delighted to now have a state-of-the-art eye hospital providing cataract surgery for NHS patients in the Midlands region.”
The design and interior fit out for the hospital was provided by Chameleon Business Interiors and features a suite of treatment and consultation spaces.
Shaun Watts, the chairman of Chameleon said: “The first impression patients get when they walk into the building is very important and we think we have delivered something which will have the right impact and fits with SpaMedica’s aim to deliver a consistently high quality service.”
SpaMedica operates nine other hospitals across the UK, including sites at Manchester, Liverpool and Sheffield.
