Folkes Properties has bought the Black Country base of builders merchant Sheffield Insulation Group (SIG) from JCAM Property for an undisclosed sum.
The 3.9-acre site on Pedmore Road, Dudley, houses a 44,843 sq ft warehouse, plus a smaller warehouse of 5,593 sq ft, both let to SIG on a 10-year lease.
Mark Rooke, director at MK2, which along with Cushman & Wakefield advised JCAM on the deal, said: “We’re pleased to have completed the sale of this prominent roadside site on behalf of JCAM. The property’s investment fundamentals – location, low passing rent, strong covenant and asset management opportunities – meant we were confident in finding a buyer, which we managed to do in just two months.”
Folkes Properties was advised on the acquisition by Skylark Real Estate.
