Commercial property agents Bulleys have been appointed to handle management and lettings at one of the main Wolverhampton industrial estates.

It follows a deal in which a private investor paid an undisclosed sum for the 7.32-acre Watery Lane Industrial Estate, Watery Lane.

Sold by Brierley Hill-based Hovi Developments, who were advised by Colliers International, the asking price was offers over £6.85 million.

The well-established complex comprises 37 units and totals 145,556 sq ft of space.

The estate is fully let to 13 tenants and is producing £546,843 per annum.

Steve Perriton, partner with Bulleys, which has offices in Wolverhampton, Oldbury and Telford, said:

“This was a significant transaction.

The units are occupied by various companies of all descriptions and sizes; bedrock businesses of the West Midlands.

We are looking forward to improving the estate going forward on behalf of our client.”

Watery Lane Industrial Estate enjoys excellent communications.

It is located near the junction of Neachells Lane with the main A454 Willenhall Road, linking Wolverhampton city centre with the M6, Junction 10, via the Black Country Route dual carriageway. The Black Country Route and Black Country New Road also provide direct dual carriageway access to Junction 1 of the M5.