Bulleys were instructed to dispose of the former Thompson Chassis premises which had become vacant at the corner of Millfields Road and Spring Road, Bilston by Advantage West Midlands. The site comprised some 13 acres (5.26 hectares) with 341,823 sq ft (31,764 M2) of industrial and office accommodation in 7 bays with 2 self contained office buildings. The majority of the accommodation was of late 1950’s/1960’s construction and had reached the end of its economic life. Our advice to the client indicated that the most likely disposal route would involve a redevelopment for an industrial/ commercial use.
A package of information was then prepared on the site, title, services etc and a marketing plan put together to meet the clients requirements. The site was marketed by us and following significant interest, ultimately best and final bids were sought. Coltham Developments were the successful bidder for the site. Due to our knowledge, track record and expertise in this location, we were subsequently approached for advice on the type of new development on the site. This comprised marketing analysis of available buildings which resulted in a scheme for a 270,000 sq ft dedicated distribution facility. Our clients placed the contract for the speculative scheme following receipt of the required planning consents and during marketing the premises were successfully sold.
Advantage West Midland’s aim of successfully seeing a redundant manufacturing facility in the Black Country being revitalised were achieved with a successful sale of the site. Coltham Developments were looking to continue their speculative development in the Black Country area, a market that they felt lacked suitable new developments of this type. Their aim of a good return on the speculative development was achieved with the sale of the building to a property fund.
We were pleased to be an integral part of the team that secured the successful development of this important site.