Lack of availability fuels LSH deal

PETROL forecourt supplier Berry’s Technologies has taken a 20,000 sq ft industrial unit in the Aston area of Birmingham.

Property consultancy Lambert Smith Hampton (LSH) sold the unit in Lichfield Road on behalf of clients of AXA Real Estate. The unit is in a roadside position roughly halfway between Birmingham city centre and Junction 6 of the M6.

Berry’s Technologies  – which supplies petrol forecourt equipment, pumps, pipework and spares – bought the unit for £900,000, which equates to approximately £45 per square foot.

Berry’s was founded in 1966, and distributes its products to many prominent customers including oil companies and supermarkets.

Its operations director Tom Hocking said, “Having searched for nearly two years for the right property in the right location, at last we feel we have found it. With its proximity to the M5 and M6 and potential as a property, our search is ended.”

Sam Mountford, surveyor in LSH’s Birmingham office said, “We are really pleased with the price achieved for this property which demonstrates that due to the current lack of freehold medium-sized industrial properties available on the market, good quality older stock in prime locations are commanding freehold prices not far short of those being achieved for existing new warehouses.”