business

Birmingham industrial buildings sold for £1.5m

Investor and asset manager C2 Capital snaps up trio of buildings let to training firm Eos Works

Norley Trading Estate

A trio of industrial buildings in Birmingham have been sold to investor and asset manager C2 Capital for in the region of £1.5 million.

The unit on the Norley Trading Estate, in Garretts Green, are occupied by training firm Eos Works and the asking price of £1.5m represented an eight per cent net initial yield.

The site is close to the M42 and the M6 motorways and comprises three modern, detached industrial warehouse buildings.

They were built in 1987 and total approximately 33,046 sq ft, made up of office space, single-storey warehousing and a HQ building.

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Thomas Morley, from the commercial agency team at Birmingham-based consultancy Harris Lamb which completed the sale, said: "This was an excellent freehold investment opportunity in an established commercial area.

"The premises are currently occupied by employment support and training specialists Eos Works, providing a passing rent of £128,000 per annum.

"C2 Capital has been particularly active in the investment sector recently and the business recognised the potential for this established site.

"The yield represented for the purchase price, and the possibilities for further development and revenue, made it a particularly attractive opportunity."

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