Demand for West Midlands trade counter assets remains strong after Goold Estates completed a trio of deals involving Toolstation and Screwfix sites across the region.
The property investment and development company has completed the lease renewal and investment sale of a unit occupied by Toolstation in Walsall, alongside a new 10-year lease agreement with Screwfix at a separate Wednesbury site.
Goold Estates agreed a new lease with Toolstation on the 5,480 sq ft unit on Bridgeman Street, Walsall, before completing the sale of the investment to a private investor client of Halls Commercial.
The unit was previously refurbished before being let to Toolstation in 2015.
The company has also secured a new 10-year lease with Screwfix on a 5,300 sq ft trade counter at Red Mill Trading Estate in Wednesbury.
The wider 122,000 sq ft estate was redeveloped by Goold Estates before the original letting to Screwfix in 2016.
Anthony Williams, property director at Goold Estates, said: “The level of interest and competitive bidding for the Toolstation investment sale illustrates the continued appeal of trade counter assets to investors, particularly where they combine a good length of income with quality covenants and well located buildings.”
Goold Estates was advised by MK2 Real Estate on the Toolstation lease renewal, with Andy Price of AP Investment handling the investment sale. Gowling WLG advised on all three transactions.
