Property firm acquires industrial site in £1.9m deal

Commercial property specialist Shed5 has acquired the 3.9-acre SIG facility on Pedmore Road in Dudley for £1.9m off-market.

The company is now planning a £500,000 programme of improvements for current residents SIG Roofing along with potential future tenants.

The purchase was made with the assistance of Stourbridge-based Hexagon Commercial Property as well as S&F Investments Advisers.

Guy Leslie of S&F Investment Advisors said: “We are delighted to have advised on the acquisition of this prominent site and are very excited at the potential this location holds.

“Our client will look to undertake a range of improvements to the infrastructure of the building, including potential works to the roof as well as the service yard, making the site a more appealing location for modern businesses.

“It is an ideal asset to sit in the Shed5 Investments portfolio. The purchase and commitment to this site is part of an ongoing active purchase strategy of value-add industrial assets in strong locations.”

Harvey Pearson, director of Hexagon Commercial Property, said: “We are delighted to have enabled this off-market purchase on behalf of Shed5.

“We know the site well with it being some 10 minutes from our offices in Stourbridge and we are really pleased to be involved with such a significant local transaction. The site provides various opportunities for Shed5, which we will help them explore.

“Our client’s commitment to investing in the area remains strong.”