Principle wins contract to look after three new-build schemes in London

A major national freeholder has appointed Principle Estate Management to look after three separate new-build schemes it has acquired in London.

The developments include eight apartments at Mallory House in Sutton, nine apartments at 50 Croham Road in Croydon, and another nine apartments at 20 St Andrews Court in Earlsfield.

Principle has been instructed to look after all three properties by Pier Management Ltd, the management arm of RG Capital Partners Ltd, as the latest in a series of recent contracts with the company.

Ahead of the new commissions, Principle assisted all the individual developers on the three sites ahead of the freehold sales, which included planning and arranging lease structures, service charges and service contracts.

Principle has also fully reviewed compliance, operations and maintenance at all the developments, including fire and general risk assessments, as well as managing the completion of any snags.

Daniel Harrison, managing director of Pier Management, said: “It was great to get one of our preferred managing agents involved, as this allowed us to get any possible management issues dealt with ahead of our purchase of the developments.

“We have high standards for our property management as we take our responsibilities as freeholder very seriously.

“What’s important to us is that we know our instructions really matter to Principle, as they share our high standards for property management.”

Joe Jobson, a director at Principle, said: “We’re delighted to have been commissioned to look after three new-build sits for Pier Management.

“It was really useful to be involved in these developments ahead of the freehold sale to our clients, allowing us to ensure the schemes were set up correctly and in safe hands from the day of purchase.

“Building such a smooth relationship with a client and developer also ensures a quicker process for the sale of the freehold interest.”

Launched in 2018, Principle has since grown from what was virtually a one-man band into what is now more than 30 staff looking after a portfolio of around 7,000 units in 250-plus developments across the UK.

Ends (340 words)

For further information please contact:

Brett Williams,

Principle Estate Management LLP, 137 Newhall Street, Birmingham B3 1SF

Tel: 07954 078711 / 0121 289 4315

Email: BWilliams@PrincipleEstate.co.uk

www.PrincipleEstate.co.uk

https://twitter.com/PrincipleEM

https://www.linkedin.com/company/principle-estate-management/

https://www.facebook.com/PrincipleEstateManagement/ 

Editors’ notes:

Principle is a customer-focused managing agent providing a transparent property management service to the highest standards nationwide, focusing particularly on the management of apartment buildings. Principle Estate Management, based in Birmingham, launched in Spring 2018 and is led by experienced chartered surveyors. The business was born out of a passion for “doing it right” through a director-led, friendly approach combined with robust systems that maximize efficiency. Principle provides a service that sets the aspirational standard for other agents. The company manages modern apartment buildings, traditional blocks of flats, mixed use developments, private housing estates and private rented sector (PRS) or build-to-rent (BTR) developments, as well as portfolios of rented properties for residential or commercial landlords.

£7.2 million sale of huge industrial site in Greater Manchester sealed by Siddall Jones

A huge industrial site in Greater Manchester has been sold for £7.2 million after less than a week of marketing by top Birmingham commercial property consultants Siddall Jones.

The self-contained manufacturing and warehouse facility known as No 2 Works, on the established Kenwood Road Industrial Estate in Reddish, near Stockport, measures more than 160,000 sq ft.

Siddall Jones was instructed on behalf of the private vendor towards the end of September and the sale was completed on Friday 1 October.

The purchaser is Birmingham-based Mercia Real Estate which plans to refurbish and rent the property, with Siddall Jones retained to market future lettings.

Ed Siddall-Jones, managing director of Siddall Jones, said: “The swift sale of this valuable site shows just how strong the industrial market is and how demand is outstripping supply.

“We are pleased to have been retained by the new owners to market No 2 Works for new lettings once the refurbishment has been completed.”

Built around 1970, No 2 Works provides a detached, high-bay and open plan industrial-warehouse area with offices, canteen, toilets and an extensive concrete yard with car parking.

Samuel Clark, chief executive of Mercia Real Estate, said: “We are extremely pleased to have marked our entrance into the North West industrial market.

“We have acquired the building with full vacant possession which provides the perfect platform for us to showcase asset management expertise to a new geography where we will be making further significant investments in 2022.”

Ends (242 words)

For further information, please contact,

Ed Siddall-Jones, Managing Director,

Siddall Jones, The Mint, 95 Icknield Street, Birmingham B18 6 RU.

0121 638 0500

www.siddalljones.com

Prepared and issued by Andy Skinner at ASAP PR – 01608 651203, mobile 07990 978257.

Editors’ Notes

Siddall Jones, which has offices in Birmingham and Dudley, was launched by Ed Siddall-Jones in 2012 and has grown steadily from one office to two and from one member of staff to six. In 2020, the firm was named Most Active Agent in the West Midlands in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine. In 2019, Siddall Jones was named Most Active Single Branch Agent by number of deals done by CoStar and was a Top Five finalist in the overall CoStar awards.

Thursfields advises on sale of Herefordshire classic car parts business

A Herefordshire classic car and motorcycle parts business has been acquired in a deal advised by Thursfields Solicitors’ corporate team.

Corporate director Tim Edwards, assisted by Ellie Bryan, advised Jeremy Holden, the founder of Holden Vintage & Classic Ltd, which is based on Linton Trading Estate, Bromyard, to SNG Barratt Group Ltd in Bridgnorth, Shropshire, for an undisclosed sum.

Tim Edwards said: “Holden Vintage & Classic is a family-run, mail-order company, established in November 1988.

“Now located in Bromyard in Herefordshire, Holden Vintage & Classic was the first company selling classic car and motorcycle parts on the internet.

“SNG Barratt Group Ltd is an internationally renowned classic parts specialist which was launched by Stephen and Hazel Barratt in the early 1980s, originally as Jaguar specialists, particularly for hard-to-source E-Type parts.”

The business took off in the 1990s following the acquisition of SOVY, a parts supplier to Jaguar, Land Rover, Bentley, Aston Martin, Bristol and other British car firms.

The company is now run by son Julian Barratt and employs a team of over 100 people, supplying tens of thousands of parts all over the world.

Reflecting on the origins of Holden Vintage & Classic Ltd, founder Jeremy Holden said: “The company started as Lucas Electrical specialists for which we are renowned. Luckily some original tooling is still available to us, and in other instances, we have commissioned new tooling to allow the manufacture of otherwise unobtainable parts.

“The product range has now been widened to cover many other classic car and motorcycle parts and accessories, including clothing, books and tools for the garage or workshop.

“We are the go-to place for car parts and accessories for many heritage car manufacturers such as Aston Martin, Land Rover, Caterham, Jaguar and Mini, and also offer a catalogue of spares for Healeys, Bristols, Jaguar XK and more.”

He said good timing was the principal factor in the decision to sell Holden Vintage & Classic Ltd.

“Steve Barratt was the first person I had lunch with back in 1988, when I made the decision to move from an engineering background with an interest in classic cars, into building a classic car parts company.

“The deal took a few twists and turns along the way, but I was very pleased that Thursfields fielded a team led by Tim Edwards that was always to hand with advice and support,” he said.

Tim Edwards added: “This was clearly a deal with enormous synergy and we congratulate Jeremy on building such a successful business and SNG Barratt Group on the decision to expand their reach and range through the acquisition of Holden Vintage & Classic.”

Rob Andrews, business and corporate services partner at Excello Law, acted for SNG Barratt Group.

Ends (449 words)

For further information, please contact:

Dani James, Business Development Manager, Thursfields Solicitors

Email: djames@thursfields.co.uk

Tel: 01905 677066

Or

ASAP PR – 07990 978257.

www.thursfields.co.uk

Twitter – @Thursfields

LinkedIn – www.linkedin.com/company/thursfields

Notes to Editors

Thursfields Solicitors is one of the region’s longest established and reputable law firms, with more than 140 staff in five offices across Worcestershire and the West Midlands. Thursfields Solicitors provides a full range of legal services to business and the private individual, including property, family, employment and commercial law as well as probate and litigation. The firm has offices in Worcester, Kidderminster, Halesowen, Solihull and Birmingham.

REI raises over £5.5m from High Street property sales

Real Estate Investors plc has raised £5,530,000 with the sale of two High Street commercial properties in Bearwood in Birmingham and Pontypool, at levels significantly above historic “pre-pandemic” book values.

Due to the strong trading performance of its Bearwood store, Aldi has purchased the freehold of the property for £5,350,000, representing a yield of 5.26%. The sale price reflects a 32% uplift in value against the December 2019 year end valuation of £4,053,000.

In Pontypool, REI has sold 124-125 Osborne Road, Pontypool, for £180,000, representing a 38% increase above the pre-pandemic valuation of December 2019. The property is let to Lloyds Pharmacy and the initial yield is 8.16%.

Paul Bassi, chief executive of REI, said: “The funds raised will be used to repay debt with a view to reducing net gearing levels and securing value adding acquisitions to enhance portfolio capital and income growth.

“This will, in turn, support REI’s ongoing progressive dividend policy.”

He added that, located in the heart of the Midlands region, the business remains well positioned to benefit from regional initiatives and events, in particular HS2 and the impending Commonwealth Games in 2022.

Ends (187 words)

For further information, please contact:

Jack Sears, Asset Manager,

Real Estate Investors plc, 2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 265 6406 or 0121 212 3446

www.reiplc.com

Prepared and issued by Andy Skinner at ASAP – 07990 978257

About Real Estate Investors Plc

Real Estate Investors Plc (REI Plc) is a publicly quoted, internally managed property investment company and REIT with a portfolio of 1.5 million sq ft of commercial property, managed by a highly-experienced property team with over 100 years of combined experience of operating in the Midlands property market across all sectors.

The company’s strategy is to invest in well located, real estate assets in the established and proven markets of central Birmingham and the Midlands, with income and capital growth potential, realisable through active portfolio management, refurbishment, change of use and lettings.  The portfolio has no material reliance on a single asset or occupier.

Elevate to begin construction of 85 apartment Price Street development before end of year

Birmingham planners have approved Elevate Property Group’s application to build 85 new homes in Price Street.

The scheme, designed by Birmingham firm K4 Architects Ltd, will include the restoration of the existing, locally-listed, Gunsmith House, and provide 46 one bedroom, 38 two bedroom and 1 three bedroom apartments in total.

Gunsmith House will contain three apartments with 1, 2 and 3 bedrooms and alongside its restoration, Elevate is building three linked blocks of four and five storeys.

David Hofton, Elevate’s sales and marketing director, said: “Within this new gated community, particular attention has been paid to outside space, the importance of which was emphasised during the pandemic.

“We have a peaceful inner garden for residents’ exclusive use which is overlooked by balconies on many of the apartments, thus providing the maximum outside space for an inner city development.

“There is some parking provision for cars, plenty for bikes plus a number EV charging points.”

The multi-million pound project is Elevate Property Group’s tenth scheme in Birmingham alone, with work also currently underway or due to start in Ashford, Kent, Nottingham, Derby and Malvern.

Construction will begin before the end of 2021 with completion projected for the first quarter of 2023.

David Hofton added: “Our Price Street development will offer great value for prospective buyers with prices expected to start at around £185,000 for a one-bedroom apartment.”

“With work already having started on 79 luxury apartments at Priory House in Southside, this is another scheme in a great location for those who live and work in the city.

“The Gun Quarter has a great heritage and we look forward to restoring Gunsmith House as part of the development, furthering our commitment to protecting the best of the old alongside fantastic new living accommodation in a popular part of Birmingham.”

Elevate Property Group has already this year received planning permission for 258 apartments at Castleward Boulevard off Liversage Street in Derby, 57 new homes at Heaton House, Camden Street Birmingham, 58 in the second phase of Trent Bridge Quays in Nottingham, and 60 in the second phase at Princes Gate in Solihull.

Work on all six sites is due to start this year – a total of 597 properties.

Elevate Property Group has built a reputation for quality medium rise large town and inner city residential developments and is set to celebrate ten years of development later this month.

Ends (392 words)

For further information, please contact:

David Hofton, Sales & Marketing Director,

Elevate Property Group, St Pauls House, St Pauls Square, Birmingham B3 1RB

0121 272 5729

http://www.elevatepropertygroup.co.uk

http://www.facebook.com/elevatepropertygroupuk

http://instagram.com/elevatepropertygroup

Editors’ Notes

Elevate Property Group creates exceptional architectural spaces that respect how important your home is for easy living and wellbeing.

Prepared and issued by Andy Skinner of ASAP PR – 07990 978257.

John Truslove helps training group move to new base in Stratford-upon-Avon

A social enterprise that builds homes and provides training for young people has established a new base in the West Midlands, aided by commercial property agency John Truslove.

It allows New Meaning to increase substantially its work with Stratford-upon-Avon affordable housing provider Orbit and more than triple the number of young people offered training and education.

Ben Truslove, joint managing director at John Truslove, worked with New Meaning to help it secure a five year lease on an 8,384 sq ft factory unit on Masons Road, in one of Stratford’s main warehousing and industrial areas.

Opened at the start of September, the unit provides the local base for Buckinghamshire-based New Meaning to increase the number of students it works with locally from 17 last year to 70 this year.

New Meaning, which also operates a housebuilding charity in the Gambia, works with young people who “fall through the cracks” of the education system, explained area manager Alex Cooper.

“We work with young people who are not in employment or the education system for reasons that range from those who have been caught up in County Lines drug trafficking to others with conditions such as anxiety, dyslexia and autism.

She said: “We work with them on life skills, maths, English and ICT, helping them secure employability qualifications and construction skills. At our core, we are about providing these young people with the ability to lead independent lives, through hands-on training and online distance learning.

“We have our own housebuilding arm but in Stratford-upon-Avon we have been working on work placements with Orbit, one of the UK’s leading affordable housing providers, at their construction site at Bearley.”

Over the last four years New Meaning has supported more than 200 young people in the Home Counties and the social enterprise is now expanding its model in Warwickshire with the new factory premises.

Ben Truslove at John Truslove negotiated the surrender of the previous tenancy on the premises at 2 Masons Road by the Sytner Group on behalf of the landlord and then secured New Meaning as the new tenant on a five year lease at £29,500 per annum.

David Lett, New Meaning Centre co-founder and operations director, added: “New Meaning Training would like to thank Ben and the team at John Truslove for their flexibility and support in helping us lease 2 Mason’s Road and open a new further education training centre in Stratford-upon-Avon supporting young people in their transition into working life.”

Ben Truslove said: “New Meaning is providing these youngsters with a real chance in life and we were delighted to be able to help them find premises that is enabling that work to expand.

“At the same time, we have been able to ensure our landlord client had a new tenant lined up after the previous occupant decided to move on. Our experience in the commercial property market means we are well placed to provide the most seamless service possible in these circumstances, ensuring a positive outcome for all involved.”

Law firm Field Seymour Parkes acted for New Meaning.

Ends (511 words)

For more information, contact:

John Truslove, Daralbee House, Archer Road, Redditch, B98 8DJ

01527 584242

Editor’s Notes

Redditch-based chartered surveyors and valuers John Truslove was established by John Truslove in 1981 and has become the market leading independent agent for commercial property in North Worcestershire and North Warwickshire as well as the wider West Midlands.

The firm was named Most Active Agent in Worcestershire in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.

Joint managing director Ian Parker was also named Worcestershire Dealmaker of the Year AND Warwickshire Dealmaker of the Year for 2020. The survey year, which runs from August to August, saw John Truslove record a 36% increase in deals negotiated over the 12 months.

Issued by Andy Skinner of ASAP PR, mobile 07990 978257.

Siddall Jones brokers residential redevelopment site sale

One of Birmingham’s most historic gun making industrial sites is set to have a new lease of life after a multi-million pound sale brokered by commercial property agents Siddall Jones.

Birmingham developers Elevate Property Group has purchased the 0.79 acre site in Price Street for an undisclosed sum with the intention of redeveloping 51-61 Price street into 84 apartments.

The property was on the market for £2.5 million.

Ed Siddall-Jones, managing director of Siddall Jones, said: “The site includes the locally-listed Gunsmith House which will be sympathetically restored by Elevate as a major part of the project.”

Elevate Property Group has applied for planning permission for a scheme designed by Birmingham’s K4 Architects Ltd which will provide a range of one, two and three bed luxury apartments  – including the restoration of Gunsmith House.

Mr Siddall-Jones said: “As Gunsmith House implies, Price Street was at the heart of Birmingham’s gun making industry which can trace its history back to the 17th century. Following the publication of Birmingham’s Big City Plan in 2008, The Gun Quarter is now a distinct district within the city and with the passing of the gun trade has several sites ripe for redevelopment.”

The site was granted outline planning permission for conversion and building work in May 2020, and when full planning permission is granted Elevate is hopeful of starting work on the multi-million pound project in the autumn of 2021 with completion projected for the end of 2022.

Harris Lamb acted for Laycock Investments, the vendor of 51-61 Price Street.

The sale of the Price Street site is just the latest in a run of successful deals done by Siddall Jones.

An office and warehouse building with a self-contained yard on a 0.7 acre site at 5 Clement Street, Nechells, Birmingham, has been acquired by Shield Environmental Services for £820,000, and a small industrial estate in Sydenham Road, Birmingham, was sold for a price close to £1 million.

For further information on the Price Street site, see https://www.elevatepropertygroup.co.uk/land/price-street

Ends (333 words)

For further information, please contact,

Ed Siddall-Jones, Managing Director,

Siddall Jones, The Mint, 95 Icknield Street, Birmingham B18 6 RU.

0121 638 0500

www.siddalljones.com

Prepared and issued by Andy Skinner at ASAP PR – 07990 978257.

Editors’ Notes

Siddall Jones, which has offices in Birmingham and Dudley, was launched by Ed Siddall-Jones in 2012 and has grown steadily from one office to two and from one member of staff to six. In 2020, the firm was named Most Active Agent in the West Midlands in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine. In 2019, Siddall Jones was named Most Active Single Branch Agent by number of deals done by CoStar and was a Top Five finalist in the overall CoStar awards.

Broad Street former nightclub building on the market

A landmark building on Birmingham’s “Golden Mile”, which formerly housed Zara’s nightclub, is on the market with property experts anticipating a sale in the millions of pounds for the prime site.

Agents Bond Wolfe and Sanderson Weatherall have been instructed by Receivers to sell the Grade II-listed freehold property at 80 Broad Street.

The 13,277 sq ft, three storey property was originally the Royal Orthopaedic Hospital.

Gurpreet Bassi, chief executive of Bond Wolfe, said: “Zara’s nightclub closed over two years ago, and the building is a well-known and recognised property in a very popular location.

“As the hospitality sector continues to pick up, we are anticipating strong interest both from leisure operators and those with an eye to the potential of this outstanding location.”

“The chance to purchase a freehold property in a location such as this in Birmingham occurs only infrequently, hence the strong investor demand we are experiencing.

“Whether the future purchaser has in mind a new venture in the hospitality sector, or has other plans, subject to planning permission, it will be good for the city to see this historic building brought back into commission.”

The available space consists of a basement office of 511 sq ft, a ground floor of 5,995 sq ft, first floor of 5,221 sq ft and second floor, which contains a two bedroom apartment, of 1,549 sq ft.

Tim Simmons, partner at Sanderson Weatherall, said: “This is a beautiful and historic building located on one of the prime leisure circuits in the city.

“The success of the UK vaccination programme has enabled the hospitality and leisure sector to reopen and people are flocking back to their favourite areas and nightspots.

“This is a major investment opportunity, and we are already receiving significant interest from local, regional and national operators and investors.”

Birmingham’s “Golden Mile” of Broad Street, Brindleyplace and the surrounding areas, is one of the biggest entertainment zones outside of London, serving tens of thousands of customers every day.

Formally known as the Westside Business Improvement District (BID), it is the city’s central hub for entertainment and business, with 15,000 people employed in over 300 businesses throughout the area, including offices, hotels, pubs, clubs, restaurants and leisure venues.

As well as a hectic night-time economy with scores of bars, restaurants and nightclubs, the district hosts The Repertory Theatre, Crescent Theatre, Ikon art gallery, National Sea Life Centre, the ICC, Symphony Hall and the modern Library of Birmingham.

Major financial institutions with offices on Westside include Lloyds, NatWest and Deutsche Bank, while the Unity Trust Bank is also headquartered there.

Big hotel brands on Westside include the Hyatt International, Jurys Inn and Hilton by Hampton.

Other major businesses located there include Avison Young, Birmingham 2022 Commonwealth Games, Capita, Colliers International, Deloitte, Odgers Berndtson – Berwick Partners, Free Radio and Capital Radio.

Further details of 80 Broad Street can be obtained from Gurpreet Bassi on gbassi@bondwolfe.com or by calling 0121 312 1212.

Ends (489 words)

For further information, please contact:

Gurpreet Bassi, Chief Executive,

Bond Wolfe, 1st Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 312 1212 

Editors’ notes:

Bond Wolfe has a record breaking and award-winning auctions team with over 300 years of combined property experience. They sell all types of residential, commercial and mixed-use property, investments and land/development sites for private individuals and corporate clients. They will hold at least seven auctions in 2021, as well as offering online auctions selling properties nationally across the UK.

Nicol & Co wins Fundraising Champion Award at national estate agents’ charity ball

A Midlands estate agent has won a top honour in the Fundraising Champion Awards presented at a national charity ball for estate agents.

Nicol & Co picked up the Special Fundraising Award at the Agents Giving event last Friday [24 September] in recognition of its commitment to donate £100 to charity from every completion on instructions received during the first lockdown.

The Special Fundraising Award was judged on “the person or company who consistently goes the extra mile and has shown extraordinary determination and motivation throughout the year in order to provide on-going support to their cause in whatever way they can”.

Michael Stoop, chairman of Agents Giving, says: “A huge congratulations to Nicol & Co for winning the Agents Giving Fundraising Champion Award 2021 for ‘Special Fundraising’.

“We have read about so many wonderful fundraising events and this once again highlights that so many estate agents are doing some fantastic charity, fundraising and community work during some challenging times.”

Nicol & Co shared the Special Fundraising Award with Arun Estates of Horsham, West Sussex

Matt Nicol, managing director of Nicol & Co, which has branches in Droitwich Spa, Worcester and Malvern, said: “The line up in this category were all great firms and I was honoured that the Nicol & Co team won the award alongside Arun Estates.”

Mr Nicol explained that the company’s initiative had initially resulted in £700 going to Worcestershire Acute Hospitals Charity, which supports Worcestershire Acute Hospitals NHS Trust.

Nicol & Co has since made further donations and decided to extend the idea by donating £100 to community organisations or charities nominated by their vendors.

Mr Nicol added: “For every sale we achieve on new instructions received this year we shall donate £100 of our fee to the school, food bank, community group, or local charity of our client’s choice.”

For further information, please see www.nicolandco.co.uk/community-fund

Ends (302 words)

For further media information or interviews, please call:

Matt Nicol, Managing Director, Nicol & Co, 226 Worcester Road, Droitwich Spa, WR9 8AY

Tel: 01905 799072

Notes to Editors

Established in 2009, Nicol & Co is an award-winning estate agency offering advice on sales, lettings, new homes and land purchase. The company combines the latest in digital media with traditional high street courtesy and service to provide the perfect blend of old and new technology.

Prepared and issued by ASAP PR. Call 01608 651203, mobile 07990 978257.

 

WAH Charity Notes to Editors:

 

Worcestershire Acute Hospitals Charity exists to support the patients, staff and services of Worcestershire Acute Hospitals NHS Trust.

Worcestershire Acute Hospitals Trust manages three hospitals – the Alexandra in Redditch, Kidderminster Hospital and Worcestershire Royal Hospital in Worcester – as well as providing a range of healthcare services from sites across our county.

Donations support the following key areas:

  • Improving facilities for patients, staff and visitors
  • Supporting ongoing staff development and welfare
  • Funding additional medical equipment
  • Supporting vital health research

Our aim is to provide those added extras that improve the experience for everyone using or providing services. Funds provided by the charity support developments and activities which are over and above core NHS services. None of your donation is used to replace core NHS funding.

To make sure the charity makes the biggest impact possible on the health of our county we work alongside the Trust to identify where your support can make a real difference.

Worcestershire Acute Hospitals Charity aims to contribute over £1million a year to supporting the thousands of patients that access services at our hospitals and the thousands of hardworking staff delivering them.

Bond Wolfe celebrates another £1 million plus instruction

Birmingham-based Bond Wolfe is demonstrating its national credentials with another £1 million plus instruction.

Fresh from selling the warehouse and offices occupied by St Austell Brewery on the Mullacott Business Park in Ilfracombe, Devon, the firm has now been appointed to sell Jubilee House, Nottingham Road, Ripley in Derbyshire.

The freehold mixed use town centre investment is on the market for £1.395 million and includes two commercial units with 14 self-contained flats above.

Commercial tenants include Foundry Gym and United Carpets (Property) Ltd and the upper floors contain 9 one bedroom, 3 two bedroom and 2 studio apartments.

The fully let property produces rental of £100,620 per annum, and based on the asking price of £1.395 million, the property offers a net initial yield of 6.8%.

James Mattin, managing director agency of Bond Wolfe, said: “Jubilee House is a substantial mixed use property in the heart of the busy market town of Ripley.

“The property occupies a prominent on Nottingham Road and nearby occupiers include HSBC next door, Lidl, Wetherspoon and Costa Coffee.

“We are anticipating significant demand for this investment in what is currently a very strong market for this type of asset. 2021 has witnessed a significant appetite for mixed use investments as buyers seek to find better returns for their money while spreading the risk among the uncertainty surrounding the pandemic.”

Further details are available at  https://www.bondwolfe.com/agency/properties/jubilee-house-nottingham-road-ripley-derbyshire-de5-3dj/ – or by calling 0121 525 0600.

Ends (237 words)

For further information, please contact:

James Mattin, Managing Director, Agency,

2nd Floor, 75/77 Colmore Row, Birmingham B3 2AP

0121 525 0600 or 0121 524 1172, Email: jmattin@bondwolfe.com

www.bondwolfe.com

Issued by Andy Skinner, ASAP PR, mobile 07990 978257.

Editors’ notes

Bond Wolfe is an established commercial property practice based in Birmingham and  West Bromwich. Its services include commercial property sales and lettings, auctions, property investment, and development throughout the West Midlands.