Harris Lamb oversees multi-million Dudley industrial estate sale
The MCR Property Group has bought Dudley's Central Works industrial estate in what is thought to be a multi-million pound deal.
The price tag is not being disclosed after owner Cebron Holdings sold the 41,000 sq ft site off Peatree Lane. The estate,which has multiple occupiers, was on the market at one stage for an asking price of around £3million
The sale was handled by agents Harris Lamb. Alex Eagleton of the business’ investment team said 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, 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 and RJ Amos Metals (1997) Ltd.
