Cornvalley Estates has acquired two investment properties for a combined total of more than £2.5m.
The Midlands-based property company has purchased a 1,400 sq ft freehold retail unit at 4 Station Road, Solihull, from a private investor for £540,000. The unit is let to Turkish Golden Scissors on a 15-year lease at an annual rent of £40,000.
Cornvalley has also acquired a 20,000 sq ft industrial unit at Portrack Grange Road in Stockton-on-Tees from JCAM Property for £2.016m.
The refurbished unit (pictured), which is located on Portrack Industrial Estate, is let to Veolia Water Technologies on a 15-year lease and generates annual rent of £150,000.
Mark Rooke, director at Birmingham-based MK2, which advised Cornvalley on the acquisitions, said: “Cornvalley is an acquisitive private property company, with a significant holding of commercial properties. We’re thrilled to have introduced and advised on these off-market opportunities to them. Thanks too to Guy Leslie of JCAM Property, who was a pleasure to work with.”
