MK2 SCORES DOUBLE DEAL FOR CORNVALLEY

MK2 has acquired two investment properties on behalf of client Cornvalley Estates. 

The Midlands based prop co has bought 4 Station Road, Solihull, from a private investor for £540,000. 

The 1,400 sq ft freehold retail unit, opposite Touchwood Shopping Centre, is let to Turkish Golden Scissors on a 15-year lease at an annual rent of £40,000. 

Cornvalley has also acquired units 1-3 Portrack Grange Road, Stockton On Tees.

The 20,000 sq ft industrial unit, on the Portrack Industrial Estate, is let to Veolia Water Technologies and was purchased from JCAM Property for £2.016 million. Having been fully refurbished, the unit is let on a 15-year lease with an annual rent of £150,000 per annum. 

Mark Rooke, director at Birmingham-based MK2, advised Cornvalley on the acquisitions. 

He 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.”