Construction group invests £0.5m to expand Midlands operation

An industrial warehousing development in Worcestershire has been acquired in a deal worth more than £500,000.

Acting on behalf of Telereal Trillium, Harris Lamb sold the 7,248 sq ft facility at 54 Arthur Street, Redditch, to Solihull construction firm Norson Plant for in excess of £550,000.

The deal was concluded after final offers were invited for the site, which is set within an acre of land.

Alex Eagleton, of Harris Lamb, said: “There were high levels of interest in the detached unit, which incorporates offices, warehousing and ancillary accommodation, thanks to its low site coverage, sitting on a 1.012-acre site and its strong commercial location close to Lakeside Industrial Estate and Kingfisher Business Park.

“This was a rare opportunity to purchase a freehold property with low site coverage, therefore we anticipated significant interest and a quick sale.

“Sure enough, the opportunity quickly went to best and final bids, with five potential buyers submitting offers at, or in excess of the asking price.”

The sale has now been completed and Earlswood-based Norson Plant intends using the premises as part of its Midlands construction operation.

The site will be occupied by its sister company Shannonside Civil Engineering, which specialises in the residential and commercial sector.