Goold Estates

Developer completes £4m trading estate sale



A Wolverhampton trading estate has been purchased for £4m by a London-based private investor.

Units 2-4 at Steelpark Trading Estate were acquired from development and investment company Goold Estates.

The development of six units was completed last year with units 2, 3 and 4 let to Smiths Metals, Zurich Insurance Group and Cooper Coated Coil.

“This deal is a great investment for the buyer,” said Dominic Goold, director at Goold Estates.

“Steelpark is a high-quality development with good transport connections, so we were confident that there would be strong demand from investors.

“We have demonstrated our ability to take a difficult site — which had been vacant for many years — through a planning, construction and letting phase and on to the successful sale of the investment.”

Adam Ramshaw, regional director of Lambert Smith Hampton (LSH) in the Midlands, who advised Goold Estates on the deal, added: “Despite the uncertainty Brexit has created in some areas of the commercial property market, the sale of Steelpark demonstrates that demand still exists for well let, modern industrial stock. 

“Investors were drawn to the strong income and leasing profile of the scheme together with the quality of the real estate that was developed by Dominic and his team.”


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