BLACK COUNTRY INDUSTRIAL ESTATE SOLD FOR IN EXCESS OF £2.6 MILLION

Harris Lamb has sold a multi-let industrial estate in Dudley to Canmoor for more than £2.6 million.

Acting on behalf of the Skelton Group with joint agent McLaren Partners, the business invited bids from interested buyers for Castle Mill Industrial Estate on Birmingham New Road.

The secure, gated site, which extends to 172,858 sq ft, comprises of 19 industrial and warehouse units ranging from 1,500 sq ft to 28,000 sq ft and is located six miles away from Wolverhampton and four miles away from the M5 motorway.

Alex Eagleton, who oversaw the sale, said that the appetite for Midlands-based industrial investment opportunities remains high, resulting in a competitive bidding process to secure the site.

“There are still high levels of interest in multi-let industrial opportunities due to the region’s stock-shortage, and this particular site has a great deal of potential for refurbishment and asset management.

“After overseeing a number of viewings and offers, we invited best bids and Canmoor, a market leading investor & developer within the warehouse sector, successfully secured the site for in excess of £2.6 million.

“While operating from London and Manchester, Canmoor recognises the on-going demand for commercial property within the Midlands, and has a strong presence within the region,” he added.