In the town of Oldbury, an 8.5 acres (3.43 hectares) site located on Roway Lane was acquired for £2.3 million by Western Trading Group. The site is adjacent to a 234 dwelling residential scheme currently under construction and has prospects for development, subject to necessary consents. A former treatment works, it has good access and is within four miles from Junction 2 of the M5.
In Sutton-in-Ashfield, 5.55 acres (2.24 hectares) of greenfield land was acquired by HW Martin for £1.4 million. The site has easy access via Coxmoor Road, which interconnects directly with the A38 and is close to the M1 heading north or south. Subject to the necessary consents, the land has the potential for employment development use.
Carter Jonas says;
“These are positive deals for Severn Trent, in line with its strategy to make its business more efficient by freeing up surplus land for development whilst generating income for reinvestment.
“The sites received strong levels of interest and achieved high values because of their convenient locations and development potential. Severn Trent continues to review and dispose of redundant parcels of land, and we look forward to working with its team, supporting this innovative approach."
Carter Jonas is also dealing with the freehold sale at Former Meir Depot, Uttoxeter Road in Stoke on Trent which is now under offer. This site is 4.35 acres (1.76 hectares) and fronts the A50 Uttoxeter Road, linking to junction 15 of the M6 to the west and junction 24 of the M1 to the east.
Together with joint auctioneers, Capita will be marketing sites every quarter due to be presented at auction.