Albion Park Sold for £2.02 million
16 March 2010
On behalf of a private client, Ryden has sold the freehold interest in Albion Park, 10-14 Birmingham Road, West Bromwich to a private investor. The purchase price is £2.02 million, reflecting a net initial yield of 6.5%.
The 17,400 sq ft trade park is prominently located next to West Bromwich Albion football club and comprises three high quality units let to Topps Tiles, HSS Hire and Screwfix. Unit sizes are between 5,000 sq ft and 6,000 sq ft; with rents ranging between £6 per sq ft and £8 per sq ft.
Stephen Harrison, surveyor at Ryden, commented: “This purchase demonstrates the continued demand for commercial property from high net worth individuals.”
The purchaser was represented by Savoy Stewart.