Birmingham commercial property consultants Shepherd Commercial has brought more than £11 million worth of property to the West Midlands market in a single month, from Digbeth development land to suburban high street retail premises.
Shepherd Commercial, the Birmingham and Solihull-based commercial property agents, took on seven sales instructions in September across Birmingham, Sutton Coldfield and north Warwickshire.
The seven instructions take Shepherd Commercial’s total for this year to 112, covering nearly 750,000 sq ft, and reflect the growth of one of the West Midlands’ most active independent commercial property consultancies.
The firm has completed 131 deals so far this year totalling 877,000 sq ft, up 31 per cent on the same period last year, and continues to take on more facilities management instructions across its management and advisory portfolio of more than 500 commercial assets.
The largest of September’s instructions were in Digbeth, where the firm is handling £7 million of property, including Bradford Street, which is being offered to developers by private sale at around £4 million.
Shepherd Commercial is also jointly marketing 74-77 and 83-85 Warwick Street with Bond Wolfe at £3 million, a 0.75-acre freehold warehouse and yard site with around 20,800 sq ft of buildings and potential for redevelopment.
One of the Digbeth sites has approved planning for 131 apartments, in an area where the Smithfield and Birmingham Eastside schemes continue to reshape the south-east of the city centre.
Kaine Arkinson, Managing Director at Shepherd Commercial, said: “September was a strong month for new instructions and reflects how the business has grown, both in the volume of work we are winning and the quality of stock owners are trusting us with, from development land in Digbeth to detached industrial sheds in Tamworth”.
“The floor space we have transacted this year is up by around a third on the same period last year, and the average time our properties spend on the market has almost halved, which shows owners that our pricing and positioning is working.
“Each of these instructions has director-level involvement from start to finish, with pricing based on transactional evidence and what we are seeing in the market right now.”
Elsewhere, Parkview Industrial Estate in Kings Norton, a multi-let estate of eight units totalling 21,215 sq ft, is available at £1.45 million.
In north Warwickshire, a 13,144 sq ft detached industrial and warehouse building on around 1.05 acres at Grendon Road, Polesworth, is on the market at £995,000, around a mile from the A5 and junction 10 of the M42.
In Moseley, 290 Wake Green Road, a mixed-use investment of two shops and two flats producing £38,120 a year, is for sale at £500,000, reflecting a gross yield of around 7.6 per cent.
The firm is also selling 4 Little Aston Lane in Sutton Coldfield, a corner building with a ground-floor showroom and four-bedroom home above, at offers in the region of £695,000, and 39 High Street in Harborne, a shop with a refurbished flat above, at offers in the region of £450,000.
