Agents at Harris Lamb have sold the former Jewson site in Stoke on Trent for more than £1 million following high enquiry levels in the freehold opportunity.
The former builder’s merchant, comprising of 8,339 sq ft of industrial buildings set on a two-acre site on Westport Road in Burslem, was marketed with a guide price of £995,000, attracting keen interest from both investors and occupiers and quickly escalating to best and final offers.
The property was secured by an undisclosed buyer for above the asking price.
Mike Burr, of Harris Lamb’s Stoke office, said: “Opportunities to purchase freehold sites of this nature are extremely rare, and we were inundated with enquiries from the moment we were instructed on the property.
“While the site, which compromises of two warehouses, one of which has been previously used as a storage centre and one of which has a trade counter area and first floor offices, along with a large yard and a standalone service yard building, has long been used for industrial purposes, its proximity to residential properties also made it suitable for potential redevelopment subject to planning permission being obtained, which only added to the interest in the opportunity.
“Further to hosting a couple of open days to showcase the property, we received a number of offers, before inviting best and final bids,” he said.
“The site has been purchased for above asking by a firm who were seeking a central UK opportunity. The size, specification and central location of the site, teamed with its excellent proximity to the national motorway network via junctions 15 and 16 of the M6, made it an ideal logistics solution for the business,” said Mike.