A leading London-based industrial property company has added to its expanding portfolio by purchasing an established Wolverhampton industrial estate.
Merryhills Enterprise Park at Park Lane, which extends to approximately 37,687 sq ft on a site of 2.55 acres, has been sold to Stenprop Limited.
The property comprises a multi-let estate, being a mix of modern detached, semi-detached, terrace industrial and office buildings.
Occupiers include DFS, Euro Car Parts, Bell Plumbing Supplies and VeloxServ Communications Ltd.
Toby Shaw, who handled the sale for Towler Shaw Roberts, said: “Merryhills Enterprise Park stimulated a high level of interest as an attractive industrial investment opportunity.
“It’s been sold to Stenprop Limited, a property investment company based in London, to be added to their large portfolio of properties.
“The market remains very strong for income producing properties and this was reflected by the amount of interest and offers we received from both private investors and property companies.”
The industrial estate had been under the same ownership since 1989, with the majority of units constructed in 1999.
The estate occupies a sought after location within two miles of Wolverhampton city centre with excellent access to the motorway network.
The estate benefits from forecourt loading and car parking facilities, with a separate external yard area to the rear of Unit 14, and a secure gated entrance.
The property was sold for an undisclosed sum with the purchaser represented by John McHardy of Ereira Mendoza & Co based in London.