Solihull business park sells to investor for £3.2m
A near 50,000 sq ft West Midlands industrial park has changed hands in a multi-million pound deal.
Earlswood Business Park, a 3.45-acre site near Solihull, has been snapped up by private investment firm Coram Powell Investments, in a deal with £3.225m.
The fully-let site, which contains 20 units over 49,623 sq ft off Poolhead Lane, was acquired by Midlands investment and development company Asper Property Group for just over £1.8m in 2023.
The sale was brokered by Worcestershire commercial property agents John Truslove.
Ben Truslove, joint managing director of John Truslove, said the sale represented a “major investment” which had significant potential.
“Since Asper Property Group acquired Earlswood Business Park in 2023, the business has spent considerable sums on a substantial refurbishment programme on the 20 units,” he said.
“The site has asset management opportunities, both short and medium term, over the next 12 months, in particular in the central area offering the potential to develop further for open storage of industrial units.”
He said the site had a potential estimated rental value of £390,000 plus per annum.
Earlswood Business Park is located six miles south west of Solihull town centre and five miles north of Redditch, just 1.5 miles from Junction 3 of the M42 leading into the national motorway network.
Charlie London, managing director of Asper Property Group, added: “Since our acquisition of the estate for £1.875 million in 2023, we have undertaken an extensive asset management and refurbishment programme and have successfully grown the contracted rent from £150,000 to £323,000.
“We are confident the purchaser will continue to realise further value in the estates next chapter. Credit to Ben Truslove at John Truslove and joint agents AP Investment for achieving an outstanding result.”
Paul Barrow of law firm Glaisyers LLP in Liverpool acted for Asper Property Group, and Angela Flanagan of Merali Beedle in London advised Coram Powell Investments Ltd.
