Cheers as investment property changes hands in £2m deal

Commercial property consultancy Burley Browne has raised a glass to celebrate sealing a deal that sees a West Midlands mixed-use investment property change hands.

A private investor has acquired Arthur House – home to a Majestic Wine Warehouse store - at Mere Green Road, Sutton Coldfield, for just under £2 million.

Arthur House was built in 2001 and provides a three-storey mixed use investment comprising a ground floor retail unit let to Majestic, with a separate ground floor entrance providing access to first and second floors occupied by Arthur House Dental Practice and Medinet Wales Limited.

Burley Browne Joint Managing Director David Hemming commented: “Opportunities to acquire an attractive prime mixed-use investment in a strong, affluent suburb such as Mere Green, are few and far between and we were not surprised to see it attract strong national interest. 

Acting on behalf of a local property investor, we were delighted to negotiate the sale of the property for a figure just below £2 million. It clearly demonstrates that Sutton Coldfield, and particularly Mere Green, presents a highly attractive location for property investors with its mix of national operators, including Marks & Spencer, Sainsbury’s, Aldi, Lidl, Starbucks, Costa Coffee, as well as independent shops and restaurants.”

The property, which has a total floor area of 8,745 sq ft, is fully let with a current net income of circa £136,753 per annum and the potential for further growth.