Pension fund swoops for prominent office building

A prominent office building at Waterfront West in Dudley has been snapped up.

Barberry House on Dudley Road has been sold for £377,500 on behalf of a private investor to a pension fund.

The fully-let modern office investment includes 4,216 sq ft let at gross rental of £42,000 a year and comes with 15 parking spaces.

The deal was overseen by Black Country commercial property agency Bond Wolfe.

James Mattin, chief executive of Bond Wolfe, said: “We are delighted to have concluded another lockdown investment deal.

“The sale was concluded within four weeks of Heads of Terms being agreed in mid-May, which is proof that putting motivated sellers and buyers together will produce a successful outcome no matter what the climate is.

“There is no doubt that these are challenging times, but we have focused on active buyers and sellers and have remained very productive in putting deals together during lockdown.”

The sellers were advised by Farleys Solicitors of Preston, while Royds Withy King in Bath advised the buyers.

Jeremy Rubin of agents Jeremy Rubin & Co acted for the buyers.

He said: “Barberry House satisfied our client’s specific requirement and we also have other clients seeking similar well located small office investments.”

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