goold estates

Property investor and developer swoops for 457,000 sq ft distribution park

Goold Estates has boosted its property portfolio with the multi-million pound purchase of an industrial and warehouse distribution park in Wolverhampton.

Totalling 457,000 sq ft, units 1-7 Spring Road in Ettingshall have been acquired from London and Oriental Properties for an undisclosed sum in an off-market deal, the company announced today.

Spring Road has seven industrial and distribution units all let to a single tenant – chilled and ambient food distribution specialist Great Bear Distribution, part of Culina Logistics Group. Units range from 33,400 sq ft to 86,505 sq ft.

Goold Estates is a commercial property, investment and development company based in Oldbury, near Birmingham, specialising in office and industrial redevelopment and asset management across the West Midlands.

Managing director Dominic Goold said the deal demonstrates the company’s ability and commitment to invest in high quality industrial/logistics sites in the region.

He said: “This is a tremendous deal for us and is a key part of our strategic business plan. Spring Road represented a great opportunity to acquire an excellent site in a fantastic location. The industrial and logistics sector is strong and this site is in a first class location, being near the motorway network.”

He added: “I am delighted to have made this high quality strategic purchase and we are looking forward to working closely with the occupier. We are committed to growing our business further and we are actively looking for opportunities of a similar calibre.”

The deal, part-funded by Handelsbanken, means that Goold Estates owns and manages a million square feet of space at multi-let industrial and trading estates across the West Midlands, with voids of less than 1% across the portfolio. The seven Spring Road units each have parking, service yards, loading bays, and a mix of level access and dock levelers. Each building has separate access and servicing arrangements.

Goold Estates recently completed the Steel Park development at Wednesfield. A hat-trick of deals completed towards the end of 2018 means that all six industrial units have been snapped up by businesses relocating or expanding their operations.

Other News

09. 09. 22

Goold Estates toasts letting to global energy drinks giant

One of the world’s fastest growing FMCG brands has secured its future in the West Midlands after relocating to an industrial estate in the region.  Hell Beverages UK Limited, part of Hungarian energy drinks producer, HELL Energy, has signed a long-term lease with landlord, Goold Estates, on a 16,975 sq […]

Read

16. 08. 22

Black Country House fully let as agent swoops for final office suite

An office building in Oldbury is fully let after the agent marketing the property agreed a deal with landlord, Goold Estates, for the final remaining office suite. Bulleys Chartered Surveyors has taken a lease assignment from Sage Building Envelope Contractors Limited at Black Country House on Rounds Green Road. Bulleys is the appointed letting […]

Read

29. 06. 22

Goold Estates sells fully let Brownhills trading estate

Goold Estates is targeting new development and investment opportunities having confirmed the sale of a multi-let industrial estate in the West Midlands. The Oldbury-based firm has completed the £1.975 million sale of Gatehouse Trading Estate on Lichfield Road in Brownhills to a private investor. The 16,396 sq ft estate is […]

Read
More News