Industrial estate sold for more than £2.6m
A multi-let industrial estate in Dudley has been sold for more than £2.6 million.
Joint agents Harris Lamb and McLaren Partners, acting on behalf of the Skelton Group, have sold Castle Mill Industrial Estate on Birmingham New Road to Canmoor.
The secure gated site, which extends to 172,858 sq ft, has 19 industrial and warehouse units ranging from 1,500 sq ft to 28,000 sq ft .
Alex Eagleton, who oversaw the sale, said that the appetite for Midlands-based industrial investment opportunities remains high, resulting in a competitive bidding process to secure the site.
“There are still high levels of interest in multi-let industrial opportunities due to the region’s stock-shortage, and this particular site has a great deal of potential for refurbishment and asset management.
“After overseeing a number of viewings and offers, we invited best bids and Canmoor, a market leading investor and developer within the warehouse sector, successfully secured the site for in excess of £2.6 million.
“While operating from London and Manchester, Canmoor recognises the ongoing demand for commercial property within the Midlands, and has a strong presence within the region,” he added.
