Buccleuch Property has commenced a comprehensive programme of refurbishment after acquiring two industrial/warehouse units in the West Midlands, leading commercial property consultancy Lambert Smith Hampton (LSH) has announced.
The units at Bescot Point, Bescot Crescent, Walsall, were acquired by Buccleuch, an Edinburgh-based property investor and developer, in a £1.65m deal. The company has invested further to extensively refurbish the units before they are available to new occupiers.
The 23,973 and 28,169 sq ft units, complete with ancillary offices and car parking, are expected to be ready for occupation in next month (July).
Matthew Tilt, industrial and logistics director at LSH in Birmingham, said: “We were delighted to be able to complete the purchase on behalf of Buccleuch Property and it’s great to see that the refurbishment programme is well advanced. The location of these units provides excellent connectivity via the Midlands motorway network, which will be a real benefit for potential occupiers. Once refurbished, they will provide an excellent platform for businesses to grow and expand their operations in the West Midlands.
“We are anticipating a lot of interest in these units given the lack of competition in the immediate area, and expect them to be occupied very soon after they are refurbished.”
Paul Jarvis, asset management director at Buccleuch Property, said: “The units represented a good opportunity for us due to the excellent location and current occupational demand in the industrial sector. We are pleased with the progress of the refurbishment, and the level of occupational interest shown to date has been encouraging.”
The units boast excellent transport links, being located 1.3 miles from Walsall town centre and the Walsall Ring Road, with junction nine of the M6 motorway only 0.6 miles away.
With offices in Edinburgh and London, Buccleuch Property has a market exposure of circa £250 million through a UK-wide investment portfolio, a range of development sites with a pipeline in excess of 2.5 million sq ft and a strategic land portfolio with over 12,000 consented residential units.