£700,000 industrial property sale completes
Birmingham agents Siddall Jones have completed another industrial property sale, which it says reflects the continuing demand for industrial accommodation within the city.
Key Land Capital has acquired Kestrel House, a 16,600 sq ft unit on a 0.42 acres site for £700,000.
Kestrel House, at 57-59 Aston Brook Street East, is the former headquarters of Hobday, which traded as e-shopfitting, wholesalers of shop fittings and sign equipment.
The three storey property was originally built in 1900 and comprises a variety of buildings which have been acquired and adapted over time.
It now includes a showroom, stores and offices and links to adjacent warehousing, workshops and outbuildings.
Ed Siddall-Jones, managing director of Siddall Jones, said: “The sale reflects the continued demand for industrial accommodation within the city.
“The Kestrel House site benefits from excellent communication links being situated next to the A38(M) Aston Expressway and this will allow the purchaser to reconfigure the site to accommodate today’s modern warehouse and trade counter users.”
The property was sold on behalf of the directors’ SIPP.
Key Land Capital Ltd is an independent property investment and development company based in Birmingham.
The business was the subject of a management buyout in May 2020 when co-founder Kevin Sharkey acquired 100% of the shares.
Sharkey said: “Aston is an area we have previously invested in and we see the site as offering a significant value add opportunity.
“We plan to develop the site to provide a number of new build high quality new B1(c), B2, B8 smaller industrial units. We will be retaining part of the site, the unit on Aston Road, and refurbishing this to provide a new trade counter-warehouse unit.”
