Pictured above: Maybrook Road industrial estate in Brownhills

Highcross has acquired the Maybrook Road industrial estate in Brownhills, West Midlands for £6.075 million.

The 159,362 sq ft industrial estate, which includes 28 units, has been purchased from Croudace Properties. The property is part of a larger industrial area, and is located two miles from Junction T6 of the M6 toll and six miles from Junction 10 of the M6 motorway. 

The units were built in the early 1980s and range from 2,254 sq ft to 28,126 sq ft on a 8.63 acre site. The estate is almost fully occupied, with only one 5,000 sq ft unit currently available. 

Highcross asset manager, Joe Curlett, comments: "Brownhills has a very limited supply of similar industrial buildings, which has resulted in good levels of occupier retention at the estate. This, together with the opportunities to increase value through active asset management, make the estate an attractive addition to our West Midlands portfolio."

Croudace Properties said: "Croudace Properties are sad to end their 40 year long association with the West Midlands, however, are very pleased with the sale, and the figure achieved, as it comprises a major component in the company's restructuring."

Mark Rooke, director of Birmingham investment agency at BNP Paribas Real Estate said: "Croudace was able to offer an excellent investment opportunity at Maybrook Industrial Estate.  Investors are keen to secure stock that is both risk diverse as well as presenting excellent asset management opportunities and Maybrook was able to meet this criteria."

Highcross was advised by Gerald Eve and Croudace Properties by BNP Paribas Real Estate.