West Bromwich retail investment brought to the market
Commercial property agents Bond Wolfe are selling a prominent West Bromwich retail investment opportunity.
Offers based on £695,000 are invited for the long leasehold interest at West Gate Plaza, 4 Moor Street.
James Mattin, managing director of Bond Wolfe, said: “West Gate Plaza is a popular retail parade with residential accommodation above, and we are delighted to have been instructed to sell this ground floor commercial property, which is opposite the police station.
“Across the Midlands, we are seeing strong demand for prominent income producing retail assets, and so we are anticipating significant interest in this opportunity.”
The 939 square feet property is let to a regional pharmacy for a term of 25 years from July 2007 at a passing rent of £54,120 per annum, reflecting a net initial yield of 7.4% after usual purchaser’s costs.
