Aldridge warehouse let to steel stockholders
Harris Lamb’s commercial agency team has let an Aldridge warehouse to an established steel manufacturer on a 10-year lease.
The business, which originally worked alongside Threadneedle on the sale of the Brickyard Road building to Property Link Midlands, was subsequently retained by the new owners to let the property further to an extensive refurbishment.
The 34,000 sq ft warehouse with extensive service yards on a 1.8-acre site saw strong levels of demand in the open market and where a letting was secured soon after landlords works completed.
Neil Slade, who oversaw the letting, said: “This is a well-appointed property located just eight miles from Birmingham City Centre, two miles from Walsall and three miles away from the UK motorway network via Junction 10 of the M6. Those access links, teamed with the refurbishment Property Link Midlands carried out at the site, made it an attractive opportunity at a time when high quality industrial buildings are increasingly scarce, and a pre-let agreement was quickly reached with family-run business AC Steels on a 10-year lease.
“Having operated since 2008, AC Steels are market-leaders in the manufacture and processing of a wide range of steel products which they supply to a number of sectors throughout the UK.
“The letting evidences the continued strength in the industrial/logistics market with limited supply and good demand, with economic indicators suggestive of continued growth in the sector going forward."
