An industrial estate where Enfield rifles and motorcycles were once made has been sold for £2.75 million.
Royal Enfield Industrial Estate in Redditch has been acquired by the town's borough council from EDR Developments.
The freehold investment totals 25,546 sq ft and includes 11 industrial units and one detached office.
The estate is fully let, with tenants including Screwfix and battery supplier Fogstar, producing a total annual rental of £200,162.
It is built on the original site of the Royal Enfield factory which produced parts for the Enfield rifle and then motorcycles, bicycles, lawnmowers and stationary engines.
The deal was carried out by property agency John Truslove which acted for the original developer EDR.
Joint managing director Ian Parker said: "Royal Enfield Industrial Estate was a speculative development by local company EDR Developments which began construction in 2017 with completion in 2018 so it is a very new asset to Redditch.
"This is an ideal mix for a local authority investment and displays great confidence in the local economy, despite the current uncertainty."
Redditch Borough Council's leader Coun Matt Dormer added: "We are committed to unlocking Redditch's potential and this purchase demonstrates we are confident in the future economy of our borough, especially with the prospect of Amazon coming here in the near future.
"Local government has to work differently against a backdrop of reduced funding and in response this council pledged to make sound investments to support regeneration in the borough.
"This will support businesses and ensure the council can realise funding so we can continue to provide top notch, frontline services which benefit everyone."
Property agency Savills, law firm Wright Hassall and the council's in-house legal team acted on the deal.
