Former West Bromwich Blockbuster site is sold
The former Blockbuster unit in West Bromwich town centre has been sold for £510,000.
West Bromwich-based commercial agent Bond Wolfe has sold the site at 69 Dudley Street to Belwell Property Investments.
Bond Wolfe managing director James Mattin said: “Our vendor client acquired the former Blockbuster unit after the business went into administration for the second time and collapsed.
“Following the property’s acquisition, we were instructed to market the premises and we managed to secure a let on a new 10-year lease.”
The Salvation Army has taken the 3,768 sq ft building, which has on-site parking, at an annual rental of £37,500.
“This deal is a classic example of what we do best. Take a vacant building, find a solid, long term tenant, thus adding significant value, and then sell the investment on.
“This is one of a number of investment deals we have in the pipeline and follows our recent £1 million plus sale of Sterry House in Stockport," said Mr Mattin.
Boss UK acted for Belwell Property Investments.
