Acting on behalf of Konecranes Demag UK Limited, Wiggins Lockett Thompson have completed the assignment of the remaining long lease at Albion Road in West Bromwich.
The premises which comprises some 17,000 sq feet of industrial and office space on approximately 1 Acre was available via the purchase of the remaining 26 years of a long lease. The property attracted a great deal of interest due to the lack of stock available in the area and after a period of negotiation and a best and final offers process the property has been sold. The purchaser is a local pets goods company Gorpets Limited who are moving from several smaller premises in the vicinity and this acquisition allows them to expand their business and gain overdue efficiency.
Anthony Wiggins MRICS, who handled the sale said: “Due to the complex nature of the tenure of this premises, we are delighted to have secured a purchaser for Konecranes, who have now been able to relocate to alternative modern premises at Great Bridge. This is the final part of a complex run of transactions undertaken for Konecranes across the Midlands and beyond and we are delighted to have been of assistance to them in rationalising their property portfolio over the last 18 months.
We have now been retained to find tenant for sections of the warehouse, yard and offices at Albion Road and are looking forward to negotiations there”.