Hexagon sells £500k commericial complex
After receiving a significant amount of interest, Stourbridge-based commercial property surveyors Hexagon Commercial Property has sold its commercial complex in Lye.
The complex at 39-41 Valley Road, which has been bought by Pipe Dream, was previously used for manufacturing and associated administration offices.
It will now be refurbished and let out as part of the company’s expansion plan and growth of other divisions including Pipe Dream Fittings, Pipe Dream Furniture and Pipe Dream Forestry.
The complex totals 7,135 sq ft on a self-contained secure site benefiting from a gated courtyard, three warehouses and a detached office block over two floors. The refurbishment will include installation of three-phase electric and other changes such as LED lighting, toilet and kitchenette facilities.
Stewart Millward, director of Pipe Dream said “Our HQ is based in Brierley Hill and as part of our expansion plan we were looking for additional space. Having dealt with Harvey and Hexagon previously and being impressed by his market knowledge, we asked him if there was anything suitable locally, to meet our requirements.
"We decided to purchase 39-41 Valley Road because of its large yard space and development/growth opportunities, which fit perfectly with our intention to grow our other divisions. We plan to work with Harvey and Hexagon on growing the commercial property portfolio in the local area.”
Harvey Pearson, director at Hexagon Commercial Property said “Having received significant interest in the property we are delighted to have finalised the sale to Stewart and James which helps kickstart their investment portfolio. We are still experiencing very high levels of demand for freehold property and this sale further demonstrates the strength of the industrial market.”
