Foundry site hits the market
An industrial complex and a commercial estate in the Black Country have been placed on the market for £1.7m.
The former Truscanian Foundries site in Oldbury closed its doors in December, and commercial agents Harris Lamb and Sellers have been instructed to sell the properties by the Lucy Group, which bought the metal castings business in 2013.
The foundry site, which extends to 28,595 sq ft and comprises of a number of industrial bays and two-storey offices, includes a five-tonne crane, and is located on the corner of Engine Street and Tat Bank Road. It is being sold along with St Martins Industrial Estate, a fully-let five-unit estate adjacent to the foundry.
The 14,927 sq ft estate, which is set in 0.55 acres, is occupied by five tenants, including Flameproof Electrical Enclosures and Potter and Upton, both of whom have been on-site for more than a decade. More than £100,000 has been invested in the estate over the past five years.
Both sites are available freehold, with the existing leases being included within the sale of the estate.
Mark Shephard of Sellers said: “This is an excellent freehold opportunity for investors and owner-occupiers alike to acquire a prime Black Country industrial site at a time when such assets are scarce, and we’re anticipating high enquiry levels from potential buyers.
“The foundry buildings are set in a 1.18-acre site and have been subject to an extensive refurbishment costing more than £1 million to include cranage, a good power supply, substantial yard and parking facilities, security fencing and CCTV. With Junction 2 of the M5 just a mile away, this is a prime location at the heart of the country with superb access links.
“St Martins Industrial Estate is currently fully-let to a select number of tenants and yields £41,000 per annum in rental income. With demand for industrial space within the region showing no signs of abating, its sale is an opportunity for investors to capitalise on a thriving commercial sector.”
