A RETAIL parade on Bromsgrove's high street, comprising four shops, offices and car parking, has been sold for £1.3 million.

Birmingham & Regional Properties Limited (BRP) is the new owner of Grosvenor House, a 10,000 square foot building currently occupied by Foto Factory, PDSA, Blue Cross and Cordant People.

The development generates an annual income of nearly £130,000.

Charles London, managing director of BRP, said: "Grosvenor House is an ideal addition to our growing portfolio. The property is located in a prime pitch and offers excellent opportunities for further asset management.

"We are delighted to be investing in the town of Bromsgrove which is currently undergoing significant regeneration and the company will look to acquire similar opportunities in the coming months."

The building was sold by Worcestershire commercial property consultancy GJS Dillon.

A spokesman for the firm added: "Grosvenor House attracted good interest from local and national investors. The new owners will benefit from the recent improvements to Bromsgrove High Street, as well as the town’s on-going attraction as one of the best places to live in the West Midlands.”