John Truslove buttons up a Black Country deal
Business property agent John Truslove has sold a Black Country investment property on behalf of Goold Estates.
Bank House, a warehouse with workshop and offices, in Bott Lane, Walsall has been acquired by Belwell Property Investments Ltd for £257,500, a gross yield of 9.7%. The property is multi-occupied and fully let at £25,000 per annum.
The four units are occupied by tenants including UKP Accessories, who supply the worldwide clothing industry, a recording studio and as storage for a recruitment company.
Bank House, which has a gross internal area of 6,155 sq ft, is the latest in a number of properties John Truslove has sold for Goold Estates.
John Truslove director Ben Truslove said: “This deal illustrates the demand from private investors seeking secure long term income.
“The West Midlands is becoming increasingly attractive to investors as it provides good value and solid returns.
Marcus Hayes, managing director of Belwell Property Investments, said: “This is our third acquisition in six months and demonstrates our belief in and commitment to the West Midlands.”
As well as Bank House, Belwell Property Investments has also acquired a mixed use retail and residential unit occupied by Boots on the ground floor in Alcester Road South, Kings Heath, and the former Blockbuster premises in Dudley Street, West Bromwich, which is let to The Salvation Army.
Mr Hayes added: “We are very much in the market for opportunities providing strong yields on our own doorstep. Our medium to long term plan is to build a portfolio of properties with good yields of 6-10% in the West Midlands.”
He cited the arrival of HSBC and a regional HMRC and pensions office, the development of HS2, the Commonwealth Games as key drivers of the West Midlands economy in the next five to ten years.
“We believe this is a good place to do business and we are looking to invest in the region’s success,” he said.
BOSS acted for Belwell Property Investments Ltd.
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