Property Big shed: Kingswood Lakeside
Sector Focus
Lawyers set for office move
A law firm is set to relocate its Birmingham office to Embassy House, in a deal agreed by Cushman & Wakefield. Thompsons Solicitors has
signed a ten-year lease on 7,600 sq ft of office space at Embassy House. The deal was agreed by
A shed load of business
Last year saw some 11.6 million sq ft of transactions completed in the Midlands on the biggest and best sheds in the region, well above the five year average, according to a local property company. These sheds are Grade A industrial and warehousing
units larger than 100,000 sq ft, and sales in 2016 beat the five year average by a staggering 29 per cent. The data comes from the latest edition of real estate
adviser GVA’s Industrial Intelligence report, which analyses industrial activity across the UK. The report identified that more than half of the
transactions were to the retail sector, with 54 per cent split evenly between retailing and e-commerce, driven by online shopping giant Amazon’s acquisition of two million sq ft of space. Supply has been diminishing since 2010, with GVA
calculating that across the Midlands there is only 4.4 million sq ft currently available across 22 units.
A more cautious approach from developers is
resulting in little stock bigger than 200,000 sq ft currently being developed speculatively. David Willmer, national head of industrial and
distribution at GVA, said: “Last year represented an outstanding period for the Midlands industrial sector, with some truly landmark deals helping to propel take-up. “However, we estimate that there is only around
some six months of stock currently available in the market based on average take-up rates. The overall lack of availability has been exacerbated by the slowdown in speculative development decisions immediately following the referendum. “The lack of stock hasn’t dampened enthusiasm from
occupiers however, and the strong demand coupled with restricted supply has led to an increase in headline rents with Birmingham, Coventry and Nottingham increasing to £6.50 from £6.25.”
Cushman & Wakefield on behalf of the landlord, Catalyst Capital. Embassy House is on the
corner of Church Street and Cornwall Street in Birmingham city centre. The building has ten storeys and more than 64,000 sq ft of office space and was recently bought by Catalyst from Royal London Asset Management. Cushman’s David Rigby
said: “We are delighted to have agreed this letting to Thompsons Solicitors. “The company joins
established tenants such as Maersk, AIG and Marston Group. Embassy House continues to attract quality tenants looking for competitively priced office space in a central location.”
Founded in 2005, Mahay Financial Services is one of Birmingham’s leading whole of market brokers, with special expertise within real estate mortgages. Offering advice and assistance on loans for residential, onward purchase and buy-to-let mortgages, our service is always met with great customer satisfaction.
Please contact us on: 0121 5517676 Or visit our website:
www.mahaysolutions.com
Mahay Financial Services is a trading style of Mahay Solutions Limited. Mahay Solutions Limited is authorised and regulated by the Financial Conduct Authority. FCA number 673400. The FCA does not regulate most types of Buy to Let and Commercial Mortgages.
Registered office: 52 Vyse Street, Hockley, Birmingham, B18 6HR. Registered in England & Wales. Company number 5306617.
June 2017 CHAMBERLINK 49
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64
