Temple Row building purchased by investor
A prime property overlooking St Philip’s Square in Birmingham has been purchased for £1.425m.
Bond Wolfe acted for Swali Investments & Holdings in its purchase of Portman House at 5-7 Temple Row West, which extends to a total space of 6,200 sq ft.
The building currently brings in rents totalling £59,000 per annum from Middle Eastern café Damascena on the ground floor, and the Baron Davenport’s Charity for local hospices, young people and women in need on the first floor.
Bond Wolfe has now been retained by Swali to market the currently vacant floors of the property, with offers based on a rent of £15,000 per annum being sought for each floor.
James Mattin, managing director – agency at Bond Wolfe said: “The property is in a superb location directly opposite St Philip’s Cathedral and provides the buyer with ample asset management opportunities.
“The investment is anchored by a highly profitable ground floor retail tenant, and we are already in advanced talks with potential tenants for the two void upper floors.
“We continue to see attractive off market investment opportunities and urge buyers to contact us to see how we can assist with their investment requirements.”
Paul Warder of commercial property firm KWB represented the undisclosed seller in the deal.
The seller’s legal advice came from Solomon Taylor & Shaw in London, while Swali was advised by Blackhams Solicitors of Birmingham.