Burley Browne Start the New Year with a Bang

Commercial | 27.01.2023

Burley Browne have started 2023 with further positivity following the end of a successful 2022 with three freehold properties being sold receiving significant interest.

Following an aggressive marketing campaign that commenced in December 2022 for the sale of two separate industrial freehold premises at the Former Beacon Woodcraft premises on Queens Street, Walsall which comprises a standalone 7,300 sq ft detached building incorporating two storey offices and Agalod House on Leamore Lane in Bloxwich, a detached warehouse/workshop of 11,600 sq ft with two storey offices, terms for the sale of both properties have been agreed with the legals now progressing.

Ben Nicholson, Senior Associate Director, comments, “These two industrial premises presented the rare opportunity of acquiring freeholds in popular locations on well-established commercial estates. We experienced a substantial level of enquiries for both opportunities resulting in competing bids being submitted. A Best & Final bids process was required on Queen Street due to the high level of offers, a number of which were well in excess of the asking price.”

Similarly, the marketing of 221 – 223 Hawthorn Road in Kingstanding which comprises a well presented retail investment and went live on the 23rd December, received such strong interest that an offer deadline was set only two weeks of going to market.

Director David Hemming commented, “It became very clear on the day of going to market that there was a strong appetite for this investment, resulting in the short marketing campaign and almost immediate offer deadline date. Over 30 offers have been received and we are now working with our client and undertaking the usual due diligence with the shortlisted parties.”

David added, “Despite the challenges that are being faced in the wider economy, the level of interest that we continue to receive for good quality freehold premises across all sectors demonstrates that property remains a safe and sensible haven for investors.”

Should you have a freehold property that you wish to sell or let and would like to discuss how Burley Browne can generate and fully maximise the marketing of your commercial premises or require further advice or assistance on a commercial property matter, please do not hesitate to contact Burley Browne on 0121 321 3441 or via our website www.burleybrowne.co.uk