07 May 2015
Telereal Trillium has sold the long leasehold interest at Bridge House, Dudley for £3.825M to an undisclosed party who were advised by The Estate Office.
The property formed part of The Merchant Portfolio, a mixture of commercial properties that were acquired by Telereal Trillium in October 2014.
Bridge House is let to The Secretary of State for Communities and Local Government who have vacated the majority of the property. The valuable lease has 224 years unexpired.
Graham Edwards, CEO at Telereal Trillium said: “The sale of Bridge House follows a number of recent transactions demonstrating our focus and active investment in the market. When purchasing the Merchant Portfolio, it was not our intention to hold this interest long term, so we are delighted to conclude the sale. This will allow us to focus on the management of the other properties where active asset management opportunities exist, as well as providing further funds for reinvestment.”
Telereal Trillium were advised by Ereira Mendoza.