Business News
Rent increases on the way for industrial space, warns expert
Increased demand for industrial and manufacturing space in Birmingham could lead to rent rises in excess of 40 per cent, property experts have warned. Commercial property agency
KWB says the demand has led to industrial rents rising by up to 25 per cent over the past five years. Head of valuation at KWB, Martin
Cook (pictured), believes the surge in demand is being exploited by some landlords, who are hiking rent prices. He said: “Depending on the age
and type of industrial unit, the average rent of a Birmingham industrial unit has risen between 20 and 25 per cent over the past five years from £6.50 to £7 per square foot. The uplift is similar around Solihull, but average rents are higher there at around £8.50 per square foot. “However some landlords are
trying to push the rental market higher on the back of the shortage of industrial space at the five-year rent reviews, or in negotiations for a new lease when the tenant wishes to remain in occupation under the 1954 Landlord and Tenant Act. “This seems to be more
prevalent in North Birmingham where the demands of HS2 have seen swathes of industrial land compulsorily purchased and a number of occupiers having to seek new premises.” Martin adds some landlords are demanding rent increases of more than 40 per cent. He said: “I have been negotiating
new rental terms for industrial and manufacturing units on behalf of a number of tenants in the Aston and Perry Barr areas, where one landlord started off by asking for an increase of some 42 per cent. “I negotiated this down to an
agreement at 22 per cent, but it is vital that tenants are represented by expert valuers, otherwise they could end up paying well in excess of the current market rate.”
• Turn to pages 78 and 79 for more property news.
Child’s play: Children enjoy the ‘Imagination Station’ Calthorpe Estate gains new nursery
Employee-owned Childbase Partnership has opened a new 89-place premium day nursery on the Calthorpe Estate. The nursery is located at the
newly-renovated listed buildings at 21 and 22 Calthorpe Road. It features a number of new
facilities, including ‘Mantra Lingua’ language systems which
aid children who learn English as a second language. A custom-built ‘Imagination
Station’ fort and grand prix cycle track feature in the garden areas. Crescent Day Nursery is
powered by electricity from renewable sources and all nappy waste will be diverted away from landfill.
Natasha Walkden, sales and
marketing manager at Calthorpe Estates, said: “The property on Calthorpe Road is perfect for the Childbase Partnership expansion as it provides all of the ingredients to let children to be creative, learn and have fun through the many rooms and spacious gardens.”
By-laws designed to improve bus safety
New powers to tackle anti-social behaviour on buses in the West Midlands are being considered by the West Midlands Combined Authority (WMCA). If approved, Transport for the
West Midlands (TfWM), part of the WMCA, will invite views on a set of proposed by-laws which would apply to buses, bus shelters and bus stations. The by-laws would give
enforcement officers greater powers to deal with anti-social acts such as smoking and vaping, intoxication, vandalising property, obstructing passengers, playing loud music and threatening or offensive behaviour. If taken forward, they would be the first set of bus by-laws in the UK. Similar by-laws are already in place on trains and trams in the West Midlands. West Midlands mayor Andy
32 CHAMBERLINK February 2019
Street, said: “Reported crime is relatively low, but the fear of anti- social behaviour still deters some people from using the bus. “Therefore we want to do
everything possible to stamp out nuisance behaviour and enable everyone to use transport in full
safety and security.” These new laws would be
enforceable by the police officers from the Safer Travel Partnership team – a partnership between West Midlands Police, British Transport Police and Transport for West Midlands.
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