Harris Lamb has sold a five-acre plot of land in Willenhall to a plant hire company after receiving a number of offers for the in-demand site.
Pickerings Plant purchased the land off St Annes Road after successfully out-bidding other interested parties.
The price achieved was in the region of the asking price of £1,250,000.
The derelict site had previously been earmarked for residential development, but had stood idle for many years prior to the property consultancy’s instruction last year.
The 5.06-acre plot, which has secondary access off Monmer Lane and Forge Street, is located within the established Ashmore Lake Way industrial area in the heart of the West Midlands, close to the M6 and providing excellent UK access links.
Neil Slade, of Harris Lamb’s Agency team, said: “The land had initially been purchased for intended residential development, but following a change in strategy, it had sat idle for a number of years.
“We were asked to sell the site for its existing industrial use last year, and were confident that its size, location and proximity to the motorway network would put it in high demand from potential buyers.
“As anticipated, once the opportunity was placed on the market, we had high levels of interest from owner occupiers and developers alike, eventually inviting best bids from interested parties, and finally agreeing a sale to Pickerings Plant.”
Pickerings Plant, an established firm specialising in the hire of site accommodation equipment, was the successful buyer. The business currently operates 11 depots across the country and will become a regional hub for the storage and distribution of plant equipment.