A Tipton industrial site has been sold to a local business as it expands its operation within the region.
Black Country-based business The Pallet Company has bought two industrial buildings totalling 10,000 sq ft, set within 1.1 acres on Leabrook Road, for an undisclosed fee after outbidding a number of other potential purchasers to secure the site.
The site, comprising two workshops and yard areas, received high levels of interest, and was opened to best and final bids.
Matthew Pearcey, of Agents Sellers Chartered Surveyors, said that the lack of quality industrial property throughout the Midlands had led to the opportunity being in high demand.
“For several years now the demand for industrial stock has far outstripped supply and opportunities like this, where the buyer has the chance to acquire the freehold of a quality facility in a prime Midlands location, are extremely rare.
“The Pallet Company has operated within the Black Country for two decades and provides services throughout the UK. The business was keen to expand its regional footprint with the addition of another Midlands site, and this opportunity, with its proximity to the M6 and its extensive yard areas, was the ideal location for them to do that,” he added.
Saleh Hijazi, Managing Director of The Pallet Company, said: “Over the last 20 years, we have continually reinvested in our business to ensure that we keep up with evolving markets and satisfy the needs of our customers, most recently introducing industry-leading software and expanding our substantial fleet of vehicles and trailers. to provide efficiency and consistency.
“As part of that investment, and our commitment to providing excellent customer service, we wanted to expand our operation within the Midlands and secure a site that would better enable us to provide our services nationwide. This site ticked all of the boxes and we are currently preparing to take occupation in the coming weeks,” he added.
Matthew added: “The sale of another prominent industrial site within the region just further highlights the ongoing need for more commercial property across the Midlands as a whole. No sooner are we and our Harris Lamb colleagues instructed to market sites, they are under offer, and the appetite shows no sign of abating. As such, we are constantly looking to replenish our stocks.”