Black Country warehouses sold in multi-million-pound deal

Two adjoining warehouses spanning more than 61,000 sq ft in the Black Country have been sold for a multi-million-pound sum to a plastic drainage components specialist.

Watling Real Estate handled the sale on behalf of an FTSE-listed client, with family-run Polydrain Civils acquiring the properties for its own use.

Situated on a three-acre site, Units 1 & 2 Ridgacre Road in West Bromwich were marketed with a guide price of £3m.

Chris Davies, a director in the Birmingham office of Watling Real Estate, said: “The sale has allowed our client to consolidate their operations into an existing facility while providing much-needed space for the purchaser to expand their operations and strengthen their presence in the region. This sale demonstrates that owner-occupier demand for well-located industrial and warehouse premises continues to remain robust despite the wider economic headwinds experienced over recent times