Yule Catto, represented by Savills, has sold the former Polymer
Latex factory at Westonhall Road, Bromsgrove to One Property Group
for £1.9 million.
The 22 acre site, which formerly operated as a latex factory,
was purchased as a strategic residential development
site.
David Currie, development director for One Property Group,
comments: "The purchase of the Stoke Prior site underlines our
appetite for acquisitions and represents a major commitment to the
Midlands market. We look forward to bringing the site forward for
onward development."
Richard Atkinson, Yule Catto Company sectary, adds: "We are
pleased to have sold the site relatively quickly and for a
favourable price in what remains a challenging market."
Charlie Spicer, surveyor at Savills, comments: "This sale was
agreed as an unconditional disposal on behalf of Yule Catto. Due to
sensitivities, the site was sold off market, we received 14 serious
offers for the site which is testament to the underlying strength
of the Midlands market for well placed development sites."
One Property Group was unrepresented.