Bromsgrove town centre offices sell for £2.45m
An office development in Bromsgrove has been sold for £2.45 million.
St Johns House was sold by Redditch-based commercial property agents John Truslove on behalf of Stratford-upon-Avon’s Quartz Investments to a charitable foundation.
The building currently houses Worcestershire's Clay Knox Accountants, who signed a new eight-year lease in January of this year. The rent of £179,000 per year means the investment returns a net yield of 7 per cent.
Ben Truslove, joint managing director of John Truslove, said: “St Johns House is a purpose-built office development over three floors 14,000 sq ft.
“Investment opportunities such as this in north Worcestershire do not come along every day, so we were delighted to be able to introduce St Johns House to the buyer. The appetite for property investment remains strong and we are keen to bring similar properties to an active and eager market.”
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