Birmingham hotel and retail site up for £6.2m

A ‘highly prominent’ mixed use investment on a major city gateway site at Maypole Retail Park has hit the market this week.

The site has gone up for sale with commercial property agents Bond Wolfe, alongside joint agents, Lewis & Partners, with offers sought around the £6.2m mark.

The Alcester Road South site, on one of Birmingham’s main commuter routes, includes a 60-bedroom Travelodge hotel and a purpose-built retail development which was constructed in 2007.

Tenants in six retail units below include Ladbrokes, Poundstretcher, InHealth and Subway.

It currently produces rental of £516,122 per year, reflecting an initial yield of 7.75%, according to James Mattin, managing director of Bond Wolfe.

“The scheme occupies a highly prominent position on the Maypole roundabout, benefitting from strong roadside visibility, good parking and surrounding national retail provision including Sainsbury’s and Aldi,” he said.

“The investment offers an attractive blend of long-income security and reversionary potential.

“Maypole Retail Park has a huge consumer community, located as it is between Kings Heath, Shirley and Wythall.”