Property overview

AP Investment has completed the off market acquisition of a five storey multi let office in central Walsall for a private investor client.

Located on Lichfield Street in the town centre the office extends over ground and four upper floors. The majority of the suites have been recently refurbished. The building is let to four tenants on six leases. There is currently one vacant suite. The combined rent is £90,500 per annum, averaging out at approximately £10 per sq ft.

There is parking to both the front and rear of the property.

The office was acquired for £825,000 which shows an initial yield of 10.4%, a reversion to 11.5% and a capital value of £83 per sq ft.

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