One of Birmingham’s top commercial property consultancies has helped facilitate the purchase of a large mixed-use property in Kidderminster.
Purchased for £1.55 million on behalf of client Highclear Investments, consultancy Siddall Jones sealed the deal to buy Carlton House in Kidderminster town centre.
The prominent freehold mixed-use building is made up of eight retail units with 15 self-contained flats above and is located near to a mix of local and national retailers, as well as other commercial units and professional offices.
The property is nearly fully let at £162,000 per year, representing a yield of more than 10% based on the purchase price.
Speaking on the deal, Ed Siddall-Jones, Managing Director of Siddall Jones, said: “Market interest in commercial and mixed-use investments is clearly growing, and so we were pleased to arrange this significant deal for Highclear Investments.
“Carlton House’s healthy occupancy and rents mean it will make a good return for our client and will add a sizable mixed-use asset to their portfolio.”
Siddall Jones arranged the purchase from London-based property investor DTF Ltd on behalf of Highclear Investments.