Investment company sells off four-storey office building
An office building that has stood vacant for a number of years on Dudley Road in Halesowen has been purchased for £1.8m.
Lygon Court, which occupies a prominent position on the corner of the A459 Dudley Road and Hereward Rise near Halesowen town centre, was sold on behalf of a local property investment company.
The four-storey property, which has a net internal area of 20,000 sq ft on 1.53 acres and comes with 92 parking spaces, was bought by a developer who is considering a variety of uses, including self-storage.
Edward Siddall-Jones, a director of Siddall Jones, the Birmingham commercial property agency, said: “This sale represents an excellent land value of just over £1 million per acre for our client.
“We are delighted with what is another large office sale in the Halesowen area, and the price is in line with a sale we completed on Mucklow Hill earlier this year.
“We continue to witness a strong demand for prominent roadside sites, being fuelled by requirements from various drive-through retailers and the emergence of electric vehicle charging station.
“This building fronts the Dudley Road and there are very few sites available over an acre that benefit from the prominence we available here.
“With the site being vacant for so long, we are looking forward to working with the new owner in finding suitable tenants for the scheme once the plans have been finalised.”