National builders merchant swoops for Dudley site in £1.3m deal
A national builders merchant has completed a deal on premises in Dudley after buying the site from a Birmingham financial firm.
National builders chain Travis Perkins has acquired the freehold of a one-acre site in Dudley in a £1.3million deal.
The builders’ merchant had previously rented the Peartree Lane building, described by agents MK2 Real Estate as a prominent roadside warehouse, from Wesleyan Assurance Society, a Birmingham-based mutual.
The lease on the one-acre site, which comprises a 15,953 square feet premises and a 13,993 square feet yard, was due to expire in 2026.
Mark Rooke, a director in MK2’s investment team, advised Wesleyan on the sale.
"With Travis Perkins’ lease approaching expiry it was a good time for Wesleyan to sell the asset and an opportunity for the tenant to purchase the freehold, securing its continued occupation at a key trading site," said Mark Rooke, Director at MK2.