Black Country industrial site sold in new deal

A 41,000 sq ft industrial site in the Black Country has changed hands in an undisclosed deal.

Harris Lamb has sold the multi-let Central Works in Peartree Lane, Dudley to MCR Property Group. The agent acted on behalf of Cebron Holdings.
 
Alex Eagleton, of Harris Lamb’s Investment team, said the sale reflected the demand for high-yielding industrial investments in the region.
 
“With the lack of available industrial stock being a hot topic within the commercial property sector for some time now, investors are recognising the strength of investments within that area, particularly those with an established tenant-base,” he said.
 
“This particular site comprises of seven industrial units with two office blocks, with four existing tenants producing a rental income in excess of £111,500 a year.
 
“With tenants occupying a range of floor areas on varying lease-lengths, including Colstan Profiles, which has occupied three of the units since 1995 and has recently committed to a five-year lease expiring in 2021, Central Works was typical of the high-yield industrial opportunities that investors are seeking across the Midlands, and MCR Property Group was keen to add it to its investment portfolio.”
 
Other tenants at the site are C Brown & Sons (Steel), Compact Fork Trucks and RJ Amos Metals (1997).
 
The deal is the latest in a number of investment transactions overseen by the team in the last few months, including the sales of an industrial unit on Featherstone Road in Milton Keynes and Nene House, an office premises in Northampton and the acquisition of Trafford Industrial Park in Redditch.

The site is also not the only one in Peartree Lane to attract investors recently.

Property REIT Hansteen Holdings is currently in the process of acquiring the portfolio of industrial sites owned by Industrial Multi Property Trust in a deal valued at more than £25m.

One of the sites owned by IMPT is Peartree Lane Industrial Estate.