FREEHOLD BIRMINGHAM WAREHOUSE SOLD AFTER ATTRACTING MULTIPLE OFFERS

A Birmingham industrial unit has sold for more than asking price following a competitive bidding process overseen by agents at Harris Lamb.

The business was instructed to sell the freehold of 43 Baltimore Road, Perry Barr, a 6,598 sq ft warehouse in need of refurbishment, with a guide price of £250,000, and reported exceptionally high demand for the opportunity.

Ashley Brown, who oversaw the sale, said: “There is a lot of demand within the Midlands for freehold industrial properties, as the interest in this opportunity demonstrates. This warehouse, which has a clear working height of approximately 3.28 metres to the eaves and a maximum height of 4.19m, benefits from car parking, and occupies a superb location just two miles from Junction 6 of the M6, thereby offering excellent UK access links.

“The building itself requires refurbishment, and subject to planning, is a potential development opportunity, and these factors attracted multiple offers from interested parties.

“Having hosted two block viewing sessions and invited two rounds of bids for the building, the property was purchased by a private individual for an undisclosed sum above the asking price.

“With more than ten offers on the table, the swift process surrounding this sale is further proof of the ongoing appetite for well-appointed industrial freehold properties throughout the wider Midlands. The market is ripe for additional stock, and this is an ideal time for anyone contemplating selling similar warehouses and units to get in touch,” added Ashley.

Ashley can be contacted at ashley.brown@harrislamb.com.