A Birmingham-based industrial agent has completed two freehold deals, involving ambitious companies looking to grow their turnover and workforce, in the Black Country
Kenny Allan is a director at the independent property agency, KWB, specialising in industrial, logistics and warehouse space.
His first deal saw a family-owned company from Brownhills acquire a 34,500 sq ft unit on Aldridge’s Middlemore Lane.
Access Products (Midlands) Ltd, (apl) which manufactures, repairs and sells aluminium structures, is now refurbishing the space.
Managing director Sarah Crump says the site is now apl’s head office, and recruitment of skilled staff is underway to meet the demands of new and existing customers.
Allan’s second deal saw a property company pay more than £1.3 m to take 16,000 sq ft of warehouse space – also on Middlemore Lane – which is now under offer to another fast-growing local business.
He was also joint agent with Wolverhampton-based agents Bulleys, on the recent sale of a three-acre site at J10 of the M6 (known as Paragon 10.1) to a local developer.
Middlemore Lane West, which links Walsall to Aldridge, was home to the massive GKN Driveline plant for more than 50 years and the company’s decision to quit the town was a major employment blow.
However, Allan says the area has since attracted multiple local companies in the warehousing, storage and distribution sectors.
“The fundamental strengths of this market haven’t changed over the years. There’s a large labour pool, excellent connectivity locally via the A454, and regionally and nationally via J10 of the M6 and the M6 Toll Road,” he says.
“The biggest challenge is finding suitable freehold space for growing companies, who are based in the Black Country and don’t want to risk losing their existing employees by expanding outside the area.
“Demand always runs ahead of supply, so the competition for any significant amount of space is always very strong, and it’s very satisfying to have completed two freehold deals – and worked on a major site disposal – in such a short period.”