Solihull High Street is still proving popular with investors despite the global pandemic and general doom and gloom surrounding the retail sector.
The West Midlands is seeing strong demand for hot high street sites with good tenants, with a string of recent deals proving investor appetite.
Commercial agents Bond Wolfe have acquired a retail parade at 51-61 High Street, Solihull, on behalf of a retained client for an undisclosed sum.
The parade of High Street properties, with tenants including Poundland, Tui and Robert Dyas, is currently producing £320,000 in rental per annum.
James Mattin, managing director agency at Bond Wolfe, said: “We are delighted to have concluded this acquisition on behalf of retained clients.
“We have seen a real surge in retail investment transactions across all lot sizes. This deal really demonstrates the increased strength of investor demand for West Midlands High Street retail despite the global pandemic.”.
The vendor was CBRE Global Investors, represented by agents Fawcett Mead with legal advice from Dechert LLP. Clark Brookes Turner Cary Solicitors acted for the purchaser.