Mon, 24 Jan 2011 | BUSINESS SALE
The Brownhills-based Maybrook Road Industrial Estate has been acquired by property fund manager Highcross.
The 159,362 sq ft estate, which is made up of 28 units, was acquired from Croudace Properties for just over £6 million. The majority of the units are already occupied, with one 5,000 sq ft unit lying vacant.
A spokesperson for Highcross – who was advised on the sale by Gerald Eve - said that the commercial acquisition represented a real boon for the company's portfolio.
Joe Curlett, asset manager at Highcross, said, "Brownhills has a very limited supply of similar industrial buildings, which has resulted in good levels of occupier retention at the estate.
"This, together with the opportunities to increase value through active asset management, make the estate an attractive addition to our West Midlands portfolio," he added.
Meanwhile, vendor Croudace Properties - who was advised by BNP Paribas Real Estate - said that they were 'pleased with the sale,' as it 'comprised a major component in the company’s restructuring.'
The selling of the industrial estate ends Croudace Properties' 40-year association with the West Midlands.
The company is an automatic and industrial door supplier, installing a variety of systems, including but not limited to, automatic doors, fire resistant shutters, entrance barriers, roller shutters and garage doors.
Well-established company operating for over 23 years. Offers a range of driving positions, which include day runs, local runs, local shunting, nights out and tramping.
The company is a business-to-business wholesaler of cask ales, continental lagers, and craft cider. Since its establishment, the business has cultivated strong relationships with high-profile and local breweries, gaining exclusive access to their pro...
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