St Modwen sells Coombs Wood investment for £2.9 million
The long leasehold investment in the 5,109 sq m (55,000 sq ft) distribution facility built on the 43-acre Coombs Wood Business Park, Halesowen, for Dormole Ltd has been sold by St Modwen Developments Ltd to Fieldbrook Properties Ltd for £2.915 million.
The sale represented an initial yield of 8.5%.
Dormole, trading as Toolbank, has taken a 15-year lease on the new premises of which it recently took occupation.
St Modwen was represented by Fuller Peiser and GVA Grimley acted for the purchaser.
For further information contact Nick Kay of St Modwen on 0121-456-2800.
Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771).