Engineering firm snaps up warehouse in £1.5m deal

An engineering firm has bought a Wolverhampton industrial unit for £1.5m.

P&R Engineering, a family-run firm specialising in fibre optic laser cutting, fabrication and sheet bending, has acquired the unit on Spring Road, Ettingshall.

Harris Lamb’s agency team oversaw the sale, which said it is hopeful that similar units will come to the market to fulfil “the ongoing call” for industrial stock in the Black Country.

Tom Morley, director, said: “The 26,000 sq ft unit, Alpha One, was finished to a high specification and offered modern industrial/warehouse accommodation with a large secure yard. When we were instructed by Andrew Brazier of Fletcher Estates to let or sell the property, we were confident that there would be a great deal of interest in both options.

“Demand for industrial space throughout the West Midlands remains very strong, and as a detached, modern warehouse located close to Wolverhampton city centre and the M5 motorway, we experienced high enquiry levels about this property as soon as it hit the market.”

He added: “P&R Engineering, which has always been based in Wolverhampton, was looking to acquire a new site to expand their existing Cable Street, Wolverhampton operation.  They recognised the lack of quality industrial/warehouse accommodation in this area, especially on a freehold basis and acted quickly to conclude the transaction.”