THE £2 million acquisition of a Lye industrial property is proof of the continuing demand for industrial investment opportunities in the West Midlands, according to award-winning commercial property agents Siddall Jones.

The deal for industrial space totalling 37,381 sq ft in units 1 & 2 Stour Vale Road was agreed in December and completed quickly by early February, a spokesman for Siddall Jones confirmed.

Minton Commercial Estates Ltd, advised by selling agents Michael Johnson, has sold the investment to Birmingham-based Parker and Parker Investments Ltd.

Ed Siddall-Jones, managing director of Siddall Jones which sealed the deal, said: “The industrial market remains the asset class of choice for a number of our clients.

“We acquired Stour Vale as it presented an opportunity to acquire a fully let, recently refurbished property to established businesses within an area that is continuing to receive investment and development.”

Unit 1 of 22,927 sq ft is occupied by KDR Resin Systems Ltd on a ten-year lease, expiring in 2029, on an annual rental of £100,000, and RWT Commercial Services Ltd occupies unit 2 of 14,454 sq ft, paying £65,000 per annum on a 10-year lease, expiring in 2030.

West Midlands law firm mfg Solicitors advised the purchaser.

The Stour Vale investment is the latest in series of deals sealed by Siddall Jones including Kestrel House in Birmingham for £700,000, the million pound plus sale of the Grade II-listed, 18,000 sq ft, former Derwent Works for an undisclosed sum and the former Birmingham Car Auctions site on Moseley Road to Joseph Chamberlain College for £1,475,000. in an off-market deal.

Siddall Jones, which has offices in Dudley and Birmingham, was recently named 'most active agent' in the West Midlands in the Radius Data Exchange survey produced in conjunction with commercial property market magazine EG.