23,000 sq ft industrial estate changes hands

The Midlands continues to be the “Mayfair” of the industrial market, according to commercial property agent Siddall Jones.

The West Midlands agent has sold PH Estate in Timmis Road, Stourbridge, on behalf of Palmers Hill Investments to a private investor for an undisclosed sum.

The 23,000 sq ft of space on 1.04 acres consists of nine units ranging from 500 sq ft to 7,500 sq ft and returns an annual rental of £105,000 per annum.

Ed Siddall-Jones, managing director of Siddall Jones, said: “We continue to see the industrial market gain momentum off the back of what has already been an unprecedented year for the sector.

“The industrial market has without doubt been the asset class of choice over recent years with both private and institutional money chasing Grade A and secondary opportunities.

“The Midlands has always been the ‘Mayfair’ of the industrial/distribution market and with the rise in online retaining we expect this trend to continue.”