Double Midlands Real Estate Agreement

The London-based real estate group has completed a double business in the West Midlands.

Ace Liberty and Stone, listed on the Aquis Stock Exchange, sold Bridge House in Dudley for £ 5.1 million.

The Bridge House, in the Waterfront East, has 42,841 square feet of office space on four floors, overlooking a canal pool near Merry Hill Mall.

The 1970s building was issued by HM Revenue & Customs and was purchased by Ace Liberty and Stone in 2014 for £ 4.1 million.

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The property group also bought Unit M in Hunters Row, Stafford, for £ 1.26 million which was left to a budget food retailer in Iceland.

He has eight years’ rent left and has a rental income of £ 95,000 a year.

In addition, the company has also completed real estate sales in Leeds and Plymouth, giving it a total profit of £ 2.8 million on these new sales.

A review of West Midlands business news for 2021

CEO Ismail Ghandour said: “These real estate sales bring in a profit of almost 35 per cent on originally paid prices with very significant rents received over a long period of time.

“The money from the sale enables a reduction in borrowing, which in turn strengthens the company’s position for future acquisitions and growth.”

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