Listed property group Real Estate Investors has secured its latest deal with the sale of 770-772 Bristol Road South in Northfield for £1.42 million.
Birmingham-based REI purchased the mixed use development for £1.25 million in cash early last year.
The property comprises 6,751 sq ft of retail outlets with residential accommodation and been sold to a private investor.
Occupiers include HSBC and West Bromwich Building Society and the sale represents a 7.68 per cent yield.
Chief executive Paul Bassi said: "Since acquiring the property approximately 12 months ago, our asset management, including selling a flat above for £50,000 at auction, has been completed and we have sold at a level well above our book value and purchase price."
The sale is the first deal to be announced since REI's annual report results last month which revealed record revenue, profit and dividends for 2014.
Mr Bassi added: "Since then, REI has raised a further £45 million and the company has reaffirmed it is an active investor with nearly £50 million of new purchases under offer or in legals."