Property agents complete off-market sale of Wellington Industrial Estate for £1.85m

Siddall Jones has successfully completed the off-market sale of Wellington Industrial Estate, acting on behalf of Mercia Real Estate, to a private local investor for £1.85 million.

The multi-let industrial estate comprises 22 units totalling over 21,000 ft2 and produces a current income of approximately £190,000 per annum.

The transaction was concluded discreetly through Siddall Jones’ extensive regional investor network, securing a swift and certain outcome for the client without the need for open market exposure.

Following completion, Siddall Jones has been reappointed as both letting and managing agent for the estate and will work closely with the new owner to implement a proactive asset management strategy aimed at enhancing income and long-term value.

Edward Siddall-Jones, managing director of Siddall Jones, said: “Wellington Industrial Estate provides a strong base of small, modern industrial units in a highly accessible location close to the city centre, while sitting just outside the Clean Air Zone.

“Assets of this nature continue to benefit from sustained occupier demand and notable rental growth, particularly within the small-unit industrial sector.

“We are excited to be working with the new owner and have already identified opportunities to invest in the refurbishment and repositioning of the estate over the next 12 to 18 months, ensuring its full potential is realised.”

The purchaser was advised by Vicarage Court Solicitors, while Mercia Real Estate was represented by Flint Bishop.