A PROPERTY investment company has bought tenanted offices in Redditch for £373,000, in a property deal sealed by John Truslove.
The firm of chartered surveyors has attracted Ashdale Investments to buy the 6,022 sq ft offices at 1 Moons Park, North Moons Moat in Redditch.
The property is rented by IT and internet specialists CoreTech Solutions for £30,000 per annum, offering a gross yield of more than eight per cent for Ashdale Investments.
Ian Parker, a director at John Truslove, said: “We are experiencing strong interest in commercial properties in Redditch and the surrounding area, which reflects investors’ confidence in the sector.
“This property has been bought with a tenant in place which made it particularly good value for money, and we were pleased to sign this deal with Ashdale.”
Ashdale Investments was set up 30 years ago by the late Mike Grantham and is now run jointly by his widow Sue and daughter Sally Coveney from offices in Hampton-in-Arden.
Ms Coveney said: “We are really pleased with these modern offices which are well looked after and based on an attractive, busy commercial park with good access to the local motorway network.
“This all made it a good investment, and the fact that it already had a tenant was even better.”
