Bond Wolfe rolls up 2024 with series of Redditch and Oldbury deals
Bond Wolfe’s agency team has rounded off the year with a string of deals completing in December.
Just one unit remains at The Quadrant in Redditch after a series of sales. The Quadrant is a highly prominent mixed use retail and leisure scheme close to the Kingfisher Shopping Centre.
Most recently, 4E The Quadrant has been sold to a private investor for £600,000. This is a substantial first floor unit with a prominent ground floor entrance, which measures 17,462 sq ft.
The property is let in its entirety to The Fit Club Redditch Ltd for a term of ten years from July 2022 at a passing rent of £60,000 per annum.
James Mattin, managing director agency at Bond Wolfe, said: “We are delighted to conclude another leisure investment sale, as prominently located assets let to strong performing tenants continue to prove attractive to private investors.”
Law firm Clark Brookes Turner Cary in West Bromwich advised the seller with Clark Willmott in Birmingham acting for the buyer.
Bond Wolfe has also sold 4A The Quadrant to Real Estate Investing Ltd of Coventry for £330,000. The double fronted unit extends to 5,752 sq ft with a rear service yard and is let to Maxi Grosik supermarket on a passing rent of £30,000 per annum.
Law firm Clark Brookes Turner Cary in West Bromwich acted for the seller and the buyer was advised by Burch Phillips & Co Solicitors of West Drayton.
Mr Mattin said they had already sold 4D1 The Quadrant last year and were currently under offer on unit 4D2. 4D2 is let to Ice Maidens hair salon with a passing rent of £18,000 per annum.
“We only have 4B The Quadrant remaining for sale. This is double fronted unit extending to 4,333 sq ft and is available with a guide price of £340,000. It is let for 20 years from November 2020 on a passing rent of £30,000 per annum.
“The success of The Quadrant demonstrates the appeal of strong retail assets to investors, and we have a number of other opportunities available across the West Midlands.”
Over in Oldbury, Bond Wolfe has also sold 582-584 Hagley Road West for £290,000 to a private investor who plans to refurbish the property before letting it via Bond Wolfe.
The property was formerly owner occupied and was offered for sale following the sale of the business.
James Mattin said: “Following the sale of the owner’s business, this property became surplus to their requirements, and we are pleased to have found an investor buyer who will refurbish the property ahead of letting to a new occupier.
“The main attraction of this opportunity is its prominent main road location with strong levels of passing traffic, along with its scope for a wide variety of uses. We are looking forward to assisting the new owner with breathing new life into this substantial property.”
And further afield in Wales, Bond Wolfe have completed the sale of 23 Victoria Square in Aberdare. The property is let to Genus UK Ltd, trading as Select, who pay an annual rent of £12,000. The property has been sold for £157,500.
