A London-based property group has completed a double deal in the West Midlands.
Ace Liberty and Stone, which is listed on the Aquis Stock Exchange, has sold Bridge House in Dudley for £5.1 million.
Bridge House, in Waterfront East, has 42,841 sq ft of office space across four storeys, overlooking a canal basin adjacent to the Merry Hill shopping centre.
The 1970s building is let to HM Revenue & Customs and was acquired by Ace Liberty and Stone in 2014 for £4.1 million.
The property group has also acquired Unit M in Hunters Row, Stafford, for £1.26 million which is let to budget food retailer Iceland.
It has eight years remaining on the lease and has a rental income of £95,000 per year.
In addition, the company has also completed sales of properties in Leeds and Plymouth, giving it a total profit of £2.8 million on these new sales.
Chief executive Ismail Ghandour said: "These property sales yield a profit of nearly 35 per cent on the prices originally paid in addition to the very substantial rents received over a long period.
"The cash from the sales enables a reduction in borrowing which in turn strengthens the company's position for future acquisitions and growth."
