A local investor has completed the purchase of a fully let investment property in a popular residential area of Wolverhampton.

Offers in the region of £200,000 had been invited by Towler Shaw Roberts for the freehold interest, with the benefit of the existing occupational lease agreements, for the property at 74 Green Lane, Claregate.

The property’s ground floor commercial premises is let by The Studio, a hair and beauty salon, with two first floor one-bedroom residential flats also occupied.

Extending to almost 500 sq ft, the property occupies a total site area of 0.089 acres.

A stand-alone garage in a well-maintained private car park, which has secure gated access, is located to the rear of the premises.

Martin Zaki, who handled the sale for TSR, said: “There was a high level of interest in the property ahead of a sale being agreed with a local investor for a figure in excess of the asking price.

“It again illustrates the continued strong demand from investors to purchase prominently located income producing properties in good areas.

“It’s situated within a well-established retail parade in a popular residential area just under two and a half miles from Wolverhampton city centre.”

The M54 motorway is situated just over three miles to the north of the property.

Pictured: The fully let property sold to a local investor by TSR is located in Claregate, a popular residential area of Wolverhampton.