Lygon Court, Hereward Rise, Halesowen, B62 8AN
Acting on behalf of a London based property company client, Franck-Steier Price has recently concluded the sale of an office investment in Halesowen.
The office totalled 19,029 sqft over ground and three upper floors. The prominent site extended to 1.68 acres and had 92 car spaces.
The building was over 60% vacant with short term income from three existing tenants. The passing rent was £40,694 per annum.
The purchaser was a private local investor, advised by Jarvie Bedhall, who paid a price of £300,000, reflecting a net initial yield of 12.94%.