Topland has just secured a letting of the entirety of its Pinnacle 191 scheme in Smethwick, West Midlands.
Hadley Group, a global steel engineering business, has taken the 191,268 sq ft unit on a 10-year lease.
Topland bought the property from the administrators for £15m in June 2021.
William Davies of Topland said: “This has proved an excellent buy, following timely acquisition from a distressed vendor and the swift execution of a business plan adding significant value and securing a robust, long-term income stream.”
Pinnacle 191 is a self contained industrial unit located in a prime West Midlands industrial location with good motorway access, dock loading and secure yards.
Savills and Bulleys advised on the deal.