Wolverhampton industrial estate sold in multi-million deal
A Wolverhampton industrial estate has been sold in a deal thought to be worth around £7 million.
An unnamed private investor has bought the 7.3 acre Watery Lane Industrial Estate from Brierley-Hill based Hovi Investments.
The price tag on the deal is not being disclosed but Watery Lane was up for sale with an asking price of offers over £6.85 million.
The new owners have appointed Black Country based commercial property agents Bulleys o handle management and lettings at the estate.
The well-established complex comprises 37 units and totals 145,556 sq ft of space.
The estate is fully let to 13 tenants and is producing £546,843 per annum.
Steve Perriton, partner with Bulleys, which has offices in Wolverhampton, Oldbury and Telford, said: “This was a significant transaction.
“The units are occupied by various companies of all descriptions and sizes; bedrock businesses of the West Midlands.
“We are looking forward to improving the estate going forward on behalf of our client.”
Watery Lane Industrial Estate is located near the junction of Neachells Lane with the main A454 Willenhall Road, linking Wolverhampton city centre to Junction 10 of the M6.
