Sector Focus
Property
City centre office block reaches full capacity
Aqua House in Birmingham is now fully occupied after GVA completed a deal to let 27,000 sq ft of Grade A space to the Environment Agency. The deal was completed on
behalf of the landlord, the Canal & River Trust, which is based on the ground floor. Aqua House has received a
comprehensive refurbishment across the full 40,000 sq ft, with quoting rents of £16.50 per sq ft, with GVA acting as sole agent. The letting, which has been
secured on a 10-year term, will see the Environment Agency take space across the top three floors of the building, situated on Lionel Street.
The Environment Agency has
relocated to Aqua House from offices in Solihull town centre, with the move driven by the need to be close to the new government hub at Arena Central and the pending conversion of its former office building to a residential scheme.
Birmingham Business Park is set to benefit from a shortage of top quality office space in Solihull and along the M42 corridor, according to a leading office agent. Malcolm Jones, a senior member
of Birmingham and Solihull-based commercial property firm KWB’s office agency team, says that the business park is in prime position to take advantage of a number of requirements from occupiers looking for around to 25,000 to 30,000 sq ft of office space. He said: “With more than 146,342
‘Office occupiers with large requirements will have to move more quickly to secure accommodation’
sq ft of space transacted in the Solihull and M42 office market in the first six months of 2018, available space is reducing, so office occupiers with large requirements will have to move more quickly to secure accommodation. “At the same time Birmingham Business Park is enjoying its lowest
vacancy rate in a decade thanks to a surge of regional investment and development. “2940 Trident Court, an office building of some 16,000 sq ft, has just
been let to CSI, and there is significant interest in the remaining larger space of 26,000 sq ft, as well as in many of the smaller suites. “It’s not just the grade A quality office space which attracts tenants to
business park. Set within 148 acres of mature parkland, it’s also the amenities and the lifestyle and environmental initiatives, as well as the range of high profile occupiers, including Rolls Royce, Fujitsu, BT, Changan, Beiersdorf and IMI.” KWB is joint letting agent for offices at Birmingham Business Park.
Business Park aims to win space race
68 CHAMBERLINK October 2018
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