A business park near Bromsgrove has been sold to building merchant EH Smith, in a deal completed by leading real estate company Cushman & Wakefield.
The development is Lydiate Business Park, which is in Lydiate Ash Road, next to Junction 4 of the M5 motorway.
There are currently two buildings on the 2.5 acre site, a detached office and a converted barn to the rear. EH Smith plans to occupy part of the barn, to use as a regional office. The detached self-enclosed building was recently refurbished, and will be let as office space.
The development was sold by Cushman & Wakefield for a sum in excess of the £750,000 asking price, on behalf of the administrators of the previous owner. The land was originally used as part of a farm.
David Rigby, associate director of Cushman & Wakefield’s Birmingham-based office agency, said: “Refurbished offices of this size and quality are in short supply. The location of the site adjacent to Junction 4 of the M5 provides excellent transports links. The site won’t be developed further, as it is designated green belt.”