Property investment and development company, Goold Estates, has successfully completed three trade counter transactions in the West Midlands, including the lease renewal and investment sale of a unit let to Toolstation.
Goold Estates has agreed a new 10-year lease with Toolstation on a 5,480 sq ft unit on Bridgeman Street, Walsall. The single let unit was substantially refurbished prior to its original letting to the retailer in 2015 and has now been sold to a private investor client of Halls Commercial.
A third deal has also been completed by Goold Estates for a new 10-year lease with Screwfix on a 5,300 sq ft unit at Red Mill Trading Estate in Wednesbury. The trade counter forms part of the wider 122,000 sq ft estate, which was comprehensively redeveloped by Goold Estates prior to its original letting to Screwfix in 2016.
Anthony Williams, property director at Goold Estates, said: “We were pleased to renew these two trade counter leases on 10-year terms, with both units benefiting from excellent roadside frontage and good customer parking.
“The level of interest and competitive bidding for the Toolstation investment sale illustrates the continued appeal of trade counter assets to investors, particularly where they combine a good length of income with quality covenants and well located buildings.”
Oliver Bates of MK2 Real Estate acted for Goold Estates on the Toolstation lease renewal, with Andy Price of AP Investment handling the investment sale. Gowling WLG advised Goold Estates on all three transactions.