Commercial agents at Harris Lamb have sold a Birmingham warehouse to an undisclosed buyer for in excess of £1.5 million after fierce competition to secure the site.
The 12,000 sq ft industrial unit on Brickfield Road attracted significant interest from potential buyers due to the ongoing shortage of high-quality warehousing available within the West Midlands, resulting in marketing being brought to a close by way of an informal tender to choose the preferred bidder.
Thomas Morley, who oversaw the sale, said: “Set on a one-acre site five miles away from Birmingham city centre, this property is located within the Hay Mills Industrial area on Brickfield Road, just off the A45 Coventry Road, within convenient reach of the UK motorway network.
“Comprising of a modern, detached warehouse unit with a 6.9m Eaves height, a level access door, ground floor office accommodation and an additional mezzanine floor extending to approximately 3,472 sq ft, the property is located on a secure gated site with a substantial yard area offering the potential for future expansion.
“There is a chronic lack of modern industrial units within the region, particularly when it comes to opportunities available for purchase, which, combined with the specification of, and potential for, this building, led to so many offers that we took the unusual step of inviting tenders for the property on behalf of the seller,” he explained.
“Having studied all bids, the seller picked the unidentified successful buyer, with the property being secured for above the guide price of £1.5 million.
The property is now being fitted out by the new owner.