Walsall
Peel South East Ltd have sold the freehold interest in 1.27 Bridge Street, Walsall for £2.4m reflecting a net initial yield of 7.8%.
The property comprises a recently refurbished unbroken parade of 12 units together with 29 apartments over, extending in total to 2,124 sq m (22,860 sq ft) or thereabouts, and producing a combined annual rental income of £200,150. The upper parts have been sold off on a long lease.
Mark Atkins Associates acted for the vendor and the purchaser was represented by Andrew Thompson & Co.

Stoke-on-Trent
A private investment fund has purchased SiTech Training & Conference Centre in Stoke for £2.1m.
The office building is let on a 15 year lease from 1996 at a passing rental of £152,750 pa to The Council of the City of Stoke on Trent.
The 12,980 sq ft building is part of the Trentham Lakes regeneration scheme, being carried out by joint venture partners, Stoke City Council and St Modwen Properties plc.
The investment is let on a three year review pattern and offers a revisionary investment with the potential to re-gear the lease with the current occupier.
Hartnell Taylor Cook LLP’s London office advised the vendors and DTZ advised the vendors, Ashtennse.

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