Kingswinford industrial site up for online auction for around £450,000
An industrial unit in Kingswinford valued at around £450,000 is going up for sale on an online property auction this week.
It is being hailed as an opportunity for a growing company to gain a foothold in the West Midlands.
The unoccupied 1.5 acre property is Unit 10 on the Gibbons Industrial Park. The buildings are configured to provide approximately two or three warehouse spaces, with the remaining space comprising of two-storey offices. In total it covers 19,700 sq ft. The property is on the market with a guide price of £400,000 - £450,000 or more.
It is up for auction in an online property auction held by John Pye Property on October 18-19.
The sale comes after warnings from the Royal Institute of Chartered Surveyors (RICS) earlier this year that a severe lack of industrial space was a ‘major issue’ in the West Midlands with less opportunities for businesses to start-up, grow or expand.
Richard Reed, head of property at John Pye Property, said: “This commercial space and immediate vicinity lends itself to industrial use, sitting just 15 miles west of the UK’s second biggest city, Birmingham and also in close proximity to Wolverhampton and Dudley; there are clear opportunities for international, national and regional companies to develop and grow.
“The Midlands is a highly sought after location, particularly for manufacturing companies or businesses looking to push products and goods around the UK’s transport network with accessible links to the north and south of the country.
“Of course, there is the potential for an investor to split the site and rent individuals part of the property separately, to maximise the rental income. Owner occupiers could rent part of the site initially, with the potential future benefit of occupying more space as their business expands.”
The company says more people are using online auctions to boost their property portfolio.
“Our unique expertise across online auctions means the way we sell property online is a real unique selling point for vendors and is distinctive across the industry,” said Mr Reed,
“The John Pye online property auction has grown significantly since its inception and with an online auction being held every three to four weeks there is constantly new property stock being offered to the market.”
The firm's latest monthly online property auction will go live on Wednesday at www.johnpye.co.uk/property-auctions.
