Siddall Jones has successfully sold Swallow House, located on Shilton Industrial Estate, in Bulkington, following a competitive bidding process.
Siddall Jones was instructed to dispose of the 40,273 sq ft asset following the insolvency of the previous occupier X K Engineering Ltd.
Ryan Lynch, a director of commercial property agents Siddall Jones, said: “We were delighted with the response to our marketing campaign for Swallow House and secured numerous bids from both owner occupier and investor purchasers. As a result, we have a number of interested parties in this area and we are keen to hear from any landlords with similar properties they wish to sell.”
On behalf of a private client, Siddall Jones was inviting offers over £1,650,000 for the freehold of Swallow House, which boasts circa 40,000 sq ft of industrial space across ground and first floor levels, secure forecourt parking and loading access, on a site area of 1.2 acres.
The property has been sold to timber engineering business Wolf Systems Ltd, which is already located on Shilton Industrial Estate.
Guy Hands of Cartwright Hands said: “We have been looking for a property for Wolf to expand their UK operations for some time, and when this opportunity became available, we worked quickly to ensure we secured the purchase.
“Thanks must be given to Ryan at Siddall Jones who ensured the deal was seamless, Simon Grindlay from BTTJ solicitors who acted for the purchasers and the team at Insight Surveyors who continue to undertake a building surveyor role.”
Wolf Systems Ltd was represented by BTTJ Solicitors in Coventry. The vendor was advised by BHW Solicitors in Leicester.
Ed Siddall-Jones, managing director of Siddall Jones, said: “Unfortunately, we are witnessing a far greater number of instructions, resulting from administrations and LPA receiverships.
“However, these instructions are quickly converted into sales and further prove not only the undersupply of industrial accommodation across the West Midlands, but the determination of industrial business to invest and upgrade their property holdings.