First City are pleased to announce the completion of the sale of Dewick Industrial Estate, the first of two properties they were instructed to sell on behalf of joint administrators at BDO.
Dewick Industrial Estate formed part of the Countrywide Homes Limited in Administration portfolio. The estate comprises 25,000 sq ft of fully let accommodation on a 5 acre (2 ha) site with longer term development potential. Acting on behalf of the joint administrators, First City achieved a sales value in excess of the £1.4m guide price.
First City are also instructed by the same administrators to sell Bluebird Industrial Estate in Wolverhampton, an 8.2 acre (3.3 ha) estate with 120,000 sq ft of buildings. Again, this property is income-producing and has significant redevelopment potential. The property is currently under offer and the sale is expected to complete in the coming weeks.
Phil McConnachie, development land agent at First City, comments “What is remarkable is the level of interest shown in both properties. Bluebird, in particular, attracted unprecedented levels of enquiries. This shows that for properties with an income and an angle, there is cash out there”.
For further information, please contact Phil McConnachie at First City.