Retail investment sale in Birmingham completes
Alcester Road South in Kings Heath, Birmingham is still proving a magnet for property investors, according to commercial agents Bond Wolfe.
The latest deal sees the sale of 18 Alcester Road South for £290,000 to an undisclosed private investor.
The 1,503 sq ft, two storey property is let to Everyday Loans until November 2027 with a passing rent of £22,500 per annum.
James Mattin, managing director of Bond Wolfe, said: “This is the latest in a run of sales on this popular retail stretch in central King Heath that Bond Wolfe has negotiated in recent months.”
The sale follows numerous sales in the parade as well as the £4.7m sale of 120-138 High Street, Kings Heath.
The parade and general run of retail properties is in close proximity to flagship High Street names such as Sainsburys, Greggs and many others.
Mattin added: “This is an area with a strong level of passing trade and high footfall as it sits on one of the main thoroughfares into the city centre. Empty units are invariably filled quite quickly, so investors have the confidence that their property will always be let.
“Buyers see it as an affordable investment providing a solid and safe return on their capital.”
West Bromwich law firm Clark Brookes Turner Cary acted for the seller and Wildings of Birmingham advised the seller.
