Siddall Jones helps investor buy prominent Kidderminster property for £1.55m
A large mixed-use property in central Kidderminster has been purchased for £1.55 million in a major investment deal.
Siddall Jones, the top Birmingham commercial property consultants, sealed the deal to buy Carlton House for its client Highclear Investments.
Carlton House occupies a prominent position within the heart of Kidderminster town centre with frontages to Oxford Street, Marlbrough Street and Worcester Street.
The freehold building is made up of eight retail units with 15 self-contained flats above, and is located near to a good mix of local and national retailers, 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.
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.”
Current commercial tenants at Carlton House include Prestige Tanning House, Ink Tattoo, Toner Estates and Happy Staffie Rescue.
The apartments above have recently been refurbished and include a mixture of studio, one-bedroom and two-bedroom accommodation.
Siddall Jones arranged the purchase from DTF Ltd, a London-based investor.
The solicitors acting on the deal for Highclear were Cotterhill Hitchman, while Wilkin Chapman acted for DTF.
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For further information, please contact,
Ed Siddall-Jones, Managing Director,
Siddall Jones, The Mint, 95 Icknield Street, Birmingham B18 6 RU.
0121 638 0500
Prepared and issued by Andy Skinner at ASAP PR – 07990 978257.
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.