A WORCESTERSHIRE trading estate has been bought from its South African owners in a multi-million pound deal.

London-based chartered surveyors Strutt & Parker handled the £4m sale of Ikon Trading Estate in Hartlebury for one of its clients, a private property company.

The deal has been shrouded in secrecy - details of the buyers have not been divulged, although it is thought they are UK-based.

The 163,000sq ft park, near Kidderminster, is home to 31 tenants, including all-weather sports surface manufacturer Tiger AG.

Tiger occupies a quarter of the estate's industrial space and accounts for 18 per cent of the total income.

But future tenants are being lured with the promise of a half-acre site, which already has B1(c), B2 and B8 planning permission for development.

Charles Lochrane, of Strutt & Parker's investment division, said the £4m outlay represented an annual yield of around 10 per cent.

"The Ikon Trading Estate provides good quality, functional accommodation on economical and flexible terms in a secure environment," he said.

"At a capital cost of less than £27.80 per sq ft, this acquisition represents an excellent investment."

Charlotte Strong, spokesman for Strutt & Parker's commercial arm, said contracts were signed at the end of last month.

The new buyers, she said, would concentrate on the site's development potential.

"There is some development land available, and they plan to concentrate on that," she said.

"It's fair to say expansion is on the cards. They've bought the whole estate so, as and when tenants move out, plans will be made."

Strutt & Parker, which bases its commercial and financial arms in London, has a wealth of rural estate offices which deal with farming and residential business across Worcestershire.