Harris Lamb has sold a multi-let industrial estate in Dudley to MCR Property Group for an undisclosed sum.
The business acted on behalf of Cebron Holdings to sell Central Works, a 41,000 sq ft site located off Peartree Lane.
Alex Eagleton of the business’ Investment team said that the sale reflected the demand for high-yielding industrial investments in the region.
“With the lack of available industrial stock being a hot topic within the commercial property sector for some time now, investors are recognising the strength of investments within that area, particularly those with an established tenant-base.
“This particular site comprises of seven industrial units with two office blocks, with four existing tenants producing a rental income in excess of £111,500 a year.
“With tenants occupying a range of floor areas on varying lease-lengths, including Colstan Profiles Ltd, which has occupied three of the units since 1995 and has recently committed to a five-year lease expiring in 2021, Central Works was typical of the high-yield industrial opportunities that investors are seeking across the Midlands, and MCR Property Group was keen to add it to its investment portfolio.”
Other tenants at the site are C Brown & Sons (Steel) Ltd, Compact Fork Trucks Ltd and RJ Amos Metals (1997) Ltd.
The deal is the latest in a number of investment transactions overseen by the team in the last few months, including the sales of an industrial unit on Featherstone Road in Milton Keynes and Nene House, an office premises in Northampton and the acquisition of Trafford Industrial Park in Redditch.