A property investment company based in Bolton, Greater Manchester, has expanded its portfolio and bought the TSB bank building in St Albans.
A six-figure sum secured the Chequer Street property for Millfield Estates, who also recently acquired the prominent Yorkshire House office building on Chapel Street in Liverpool’s business district.
The firm’s latest purchase will see the current tenants TSB Bank plc continue their 10-year lease of the property with the new investors until it is reviewed in 2021.
Paul Dobson, property director, said: “This was an opportunity to acquire a well-secured, well-located retail investment in a prosperous south east city. The strength of St Albans’ retail market is indisputable and so this was a logical investment for us.
“We are passionate about developing properties across the UK and are proud to already manage commercial units and retails spaces in Birmingham, Bolton, Cramlington, London, Manchester, Northwich, Sunderland and Wakefield.”
The ground floor unit in St Albans was formerly part of the Queen’s Hotel, has a total lettable area of almost 2,000 sq ft and is housed under the newly converted luxury apartments.
For more details about Millfield Estates’ portfolio and company history, visit www.millfieldestates.com.
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