The Black Country base of builders’ merchant Sheffield Insulation Group (SIG) has been sold.
Folkes Properties has bought the 3.9-acre site on Pedmore Road, Dudley, from JCAM Property.
The property includes a 44,843 sq ft warehouse, plus a smaller warehouse of 5,593 sq ft, both let to SIG on a ten-year lease.
JCAM Property, which was advised by MK2 Real Estate and Cushman & Wakefield, acquired the site in 2020 and agreed a new lease with SIG.
Mark Rooke, director at MK2, said: “We’re pleased to have completed the sale of this prominent roadside site on behalf of JCAM Property. The property’s investment fundamentals – location, low passing rent, strong covenant and asset management opportunities – meant we were confident in transacting this property, which we managed to do in just two months.”
Folkes Properties was advised by Skylark Real Estate.