Harris Lamb has sold a Droitwich warehouse site to a BTCC motorsport team for in excess of £1 million.
The 23,500sq ft unit on the Berryhill Industrial Estate was sold after potential occupiers submitted best bids, with Team Dynamics Motorsport, which supports triple British Touring Car Champion Matt Neal and the Honda Works BTCC team, being the successful buyers.
The premises, comprising of a refurbished two-bay warehouse with offices and cranage set within a secure, self-contained 1.9 acre site, is located just two miles from junction 5 of the M5, offering excellent access links, and was placed on the market six months before Pipe Supports vacated it, with an asking price of £1.1 million.
Charles D’Auncey, Director at Harris Lamb, said: “This was a fairly detailed instruction as our client, Hill & Smith Holdings PLC, planned to relocate its Pipe Supports business, which formerly occupied the unit, and wanted to ensure that a new owner was found and contracts exchanged before the premises was vacated.
“As expected with a freehold industrial site of this size and quality, we experienced a great deal of interest from potential new owners as soon as we began marketing it.
“Further to a number of viewings from both regional and local occupiers, we invited best bids, to be selected based on strict criteria to include price, ability to perform and the commitment to meet the required timescales, thus minimizing the void period at the site.
“Team Dynamic Motorsport were able to satisfy all requirements, demonstrating a commitment to exchange and complete upon Pipe Supports’ vacation, and exceeding the desired asking price,” he added.