Franck Steier Price has recently completed the sale of a business park office investment on behalf of a private property company client.
The property was located in St Kenelm Court, a two storey terraced office development on Coombswood Business Park, located north of Halesowen town centre.
The mid terrace unit extended to 2,200 sqft and had 6 car spaces included.
The ground floor was let to Fisher German LLP on a 3 year lease from 10 March 2017. The passing rent was £15,750 (£14.76 per sqft).
The first floor was let to Sure Maintenance Ltd on a 3 year lease from 16 October 2016. The passing rent was £15,750 (£14.08 per sqft).
The property was sold to a private investor for £405,500 which reflected a yield of 7.45%.