MK2 WRAPS UP SALE OF SIG'S BLACK COUNTRY BASE

MK2 Real Estate's investment team has completed the sale of the Black Country base of builders’ merchant Sheffield Insulation Group (SIG).

Folkes Properties has bought the 3.9-acre site on Pedmore Road, Dudley, from JCAM Property for an undisclosed sum.

The property includes a 44,843 sq ft warehouse, plus a smaller warehouse of 5,593 sq ft, both let to SIG on a ten-year lease. 

JCAM, which was advised by MK2 Real Estate and Cushman & Wakefield, acquired the site in 2020, agreeing a new lease with SIG.

Mark Rooke, director at MK2, said: “We’re pleased to have completed the sale of this prominent roadside site on behalf of JCAM. The property’s investment fundamentals – location, low passing rent, strong covenant and asset management opportunities – meant we were confident in transacting this property, which we managed to do in just two months.”