Landmark Black Country office building sold

A landmark office building close to West Bromwich Albion FC’s stadium has been sold for £2.7 m.

Bond Wolfe and Allsop completed the sale of the six-storey Hawthorns House in Smethwick to a private investor.

The freehold multi-let office block has around 60,500 sq ft of space and a current rental income of £323,214 a year, making the investment worth an initial gross yield of nearly 12% for the new owner.

James Mattin, managing partner at Bond Wolfe, said: “We are delighted to have concluded the sale of this well-established and prominent asset in conjunction with Allsop”

“The sale price shows how the demand for income-producing investment stock in secondary locations remains very strong.

“We are continuing to witness supply being far outstripped by the huge demand for West Midlands stock from outside investors.”

Hawthorns House is based on Hawthorns Business Park, and nearby occupiers include Sandwell Academy, JCB and Scheff Foods.