Income-producing commercial investments in the Black Country are proving popular as investors seek a real return on their capital.
Agents Bond Wolfe Commercial have just sold a freehold mixed use development at 51 High Street, West Bromwich, off an asking price of £300,000 to a private investor.
The property is one of a portfolio of investments that Bond Wolfe is selling, with a further six deals under offer.
James Mattin, chief executive of Bond Wolfe Commercial, said: “Sub-£500,000 income producing commercial investments are proving extremely popular as people are starting to park money in commercial real estate.
“They see this as the safest route to a return on their capital in the current climate.”
The fully-let property includes a ground floor shop with two flats above in a prominent and popular location. The combined total annual income is £23,918.
The ground floor tenant has been in occupation since 2004 and the two flats are let on assured shorthold tenancies.
Mr Mattin added: “There is a clear and immediate demand for investment opportunities in the Black Country and wider West Midlands and we are keen to speak to landlords considering putting their properties on the market.”