Mercia Real Estate (“MRE”), the midlands focussed real estate investor and asset manager has exchanged contracts in the freehold acquisition of a multi-let trading estate in Wednesbury.
GWS Trading Estate, located just off the Black Country New Road, comprises 135,000ft of accommodation across 30 units of up to 23,000ft.
Managing Director Samuel Clark of Mercia Real Estate said “The estate offers a number of immediate asset management opportunities and is let off historic low passing rents. There is an immediate opportunity to unlock underlying value through the letting of void units, soft refurbishment and formalising the tenancies.”
Mercia Real Estate has continued its acquisition spree having completed £20m of acquisitions since inception in April 2018 and continues to have considerable funds to deploy into the Midlands real estate market.
MRE was advised by MK2 Real Estate and the vendor was advised by Bulleys.