£2m industrial deal signed and sealed
A £2.035m industrial property investment deal in Stourbridge has been completed.
The acquisition of an industrial property overseen by commercial property agents Siddall Jones for industrial space totalling 37,381 sq ft in Units 1 & 2 Stour Vale Road, was agreed in December and completed by early February.
Minton Commercial Estates, advised by selling agents Michael Johnson, has sold the investment to Birmingham-based Parker and Parker Investments.
Ed Siddall-Jones, managing director of Siddall Jones, said: “The industrial market remains the asset class of choice for a number of our clients.
“We acquired Stour Vale as it presented an opportunity to acquire a fully let, recently refurbished property to established businesses within an area that is continuing to receive investment and development.”
Unit 1 of 22,927 sq ft is occupied by KDR Resin Systems on a ten year lease expiring in 2029 on an annual rental of £100,000, and RWT Commercial Services occupies Unit 2 of 14,454 sq ft, paying £65,000 a year on a ten year lease expiring in 2030.
Law firm mfg Solicitors advised the purchaser.
