The £2.035 million acquisition of a Stourbridge industrial property by commercial property agents Siddall Jones on behalf of retained clients is proof positive of the continuing demand for West Midland in industrial investment opportunities.
The deal for industrial space totalling 37,381 sq ft in Units 1 & 2 Stour Vale Road, Lye in Stourbridge, was agreed in December and completed quickly by early February.
Minton Commercial Estates Ltd, advised by selling agents Michael Johnson, has sold the investment to Birmingham-based Parker and Parker Investments Ltd.
Ed Siddall-Jones, managing director of Siddall Jones, said: “The industrial market remains the asset class of choice for a number of our clients.
“We acquired Stour Vale as it presented an opportunity to acquire a fully let, recently refurbished property to established businesses within an area that is continuing to receive investment and development.”
Unit 1 of 22,927 sq ft is occupied by KDR Resin Systems Ltd on a ten year lease expiring in 2029 on an annual rental of £100,000, and RWT Commercial Services Ltd occupies Unit 2 of 14,454 sq ft, paying £65,000 per annum on a ten year lease expiring in 2030.
Law firm mfg Solicitors advised the purchaser.
The Stour Vale investment is the latest in series of deals sealed by Siddall Jones including Kestrel House in Birmingham for £700,000, the million pound plus sale of the Grade II-listed, 18,000 sq ft, former Derwent Works for an undisclosed sum and the former Birmingham Car Auctions site on Moseley Road to Joseph Chamberlain College for £1,475,000. in an off-market deal.