Bond Wolfe continues run of Kings Heath investment sales

Premises hosting a Syrian restaurant and a convenience store on a popular Birmingham high street have been sold for £300,000 by commercial property agents Bond Wolfe.

A private investor expanding their portfolio signed the deal for the combined purchase of the Kings Heath properties, which will bring in rental incomes totalling £29,500 a year.

The Old Damascus restaurant is on the first floor at 2 Alcester Road South, located at the junction with Vicarage Road, and produces annual rent of £7,000 on a lease running until 2040.

The Bob Shop convenience store is directly underneath at 4 Alcester Road South, with its 1,100 sq ft space bringing in rent of £22,500 a year on a lease running until 2033.

James Mattin, our Managing Director, said: “This combined sale is the latest in a long line of investment deals we have completed this year.

“We are delighted with the successful results we have achieved is what has been a difficult market.

“There is no sign of the appetite for secondary investment assets wavering and we look forward to announcing further local sales imminently.”

Silks of Oldbury provided legal advice for the buyer, while CBTC acted for the seller.