A West Midlands trade park has been purchased for £1.505 million.
Stokesy & Co Estates Ltd has made its biggest investment yet in buying Junction 1 Trade Park – so called because of its location just off Junction 1 of the M5 motorway.
Shortland Penn + Moore’s Jonathan Moore acted on behalf of Stokesy & Co in the deal for the trade park which features two single storey warehouse units with attached two storey offices.
A 14,981 sq ft unit is let to Howden Joinery Properties, while a 16,981 sq ft unit is let to RAK Ceramics UK Ltd.
The purchase from Antler Property Investments Plc, represented by Knight Frank, reflects a net initial yield of eight per cent.
Jonathan said: “This is Stokesy & Co’s largest investment to date and, with the quality of tenants and the outstanding location, this represents a very good deal.
“There is also development opportunity on the park which would add further future value.”
