Commercial property agents Bond Wolfe have completed another two deals which reflect the continuing strength of the West Midlands property market.
A private investor has paid £525,000 for 83 Middlemore Industrial Estate, a 16,000 sq ft unit located just one mile from Junction 1 of the M4 and four miles from Birmingham city centre.
And West Bromwich BID, the business improvement district organisation, has signed a seven year lease for 1,000 sq ft at 4 St Michaels Court in the centre of West Bromwich.
Bond Wolfe managing partner James Mattin said: “The Middlemore deal reflects the increasing levels of demand for industrial units in Sandwell which has continued throughout 2018 and we have seen several units come under offer in the past few months.
“With inquiries coming in on a daily basis, the challenge is now to find similar industrial stock and we are keen to hear from owners interested in selling or letting their property.”
Baldev Kang at law firm CBTC Millichips acted for the seller and Julie Robinson of Davison Solicitors represented the buyer.
James Mattin added that the West Bromwich BID deal threw the spotlight on the very limited office availability in West Bromwich town centre, in the light of some notable sizable lettings and the growing trend for office to residential conversion.
“At least 130,000 sq ft has been converted or is in the process of being converted for residential use in the last 18 months, with more in the pipeline,” he said.
The landlord was represented by David Joseph of Abrahams Dresden LLP in London. The tenant was not represented.