The Midlands continues to be the “Mayfair” of the industrial market, according to commercial property agents Siddall Jones.
The West Midlands “Most Active” agents have sold PH Estate in TImmis Road, Stourbridge, on behalf of Palmers Hill Investments to a private investor for an undisclosed sum.
The 23,000 sq ft of space on 1.04 acres consists of nine units ranging from 500 sq ft to 7,500 sq ft and returns an annual rental of £105,000 per annum.
Ed Siddall-Jones, managing director of Siddall Jones, said: “We continue to see the industrial market gain momentum off the back of what has already been an unprecedented year for the sector.
“The industrial market has without doubt been the asset class of choice over recent years with both private and institutional money chasing Grade A and secondary opportunities.
“The Midlands has always been the ‘Mayfair’ of the industrial/distribution market and with the rise in online retaining we expect this trend to continue.”
Siddall Jones was named “Most Active Agent” in the West Midlands in 2020 in the Radius Data Exchange survey produced in conjunction with EG, the commercial property market magazine.
Siddall Jones, which has offices in Birmingham and Dudley, was launched by Ed Siddall-Jones in 2012 and has grown steadily from one office to two and from one member of staff to six.
During the past six months, Siddall Jones has concluded a number of major deals including the sale of a prime residential site with full planning permission for 44 apartments and 32 parking spaces with gated access at 50-60 Northwood Street in Birmingham’s Jewellery Quarter for £1.8 million.
And the million pound plus sale of the Grade II-listed, 18,000 sq ft, former Derwent Works on the corner of Constitution Hill and Henrietta Street, for an undisclosed sum.
Siddall Jones also sold the former Birmingham Car Auctions site on Moseley Road to Joseph Chamberlain College in an off-market deal. The 1.7 acre site was sold on behalf of MJ & K Properties for £1,475,000 and will be used by Joseph Chamberlain College for educational purposes.