UBCUK’s Birmingham Business Park serviced offices have exceeded their occupancy targets only 18 months after opening. The serviced office centre at 1310 Solihull Parkway was acquired, refurbished and let to serviced office provider, UBCUK, by Birmingham and Solihull commercial property agency KWB.
The Birmingham Business Park serviced offices have exceeded 75% occupancy in only their second year of operation, an achievement which according to KWB Director, John Bryce, puts them well ahead of company expectations.
John Bryce says, “Having the 16,000 sq ft office building more than three quarters occupied by 24 different businesses is an outstanding performance, beating the targets set for occupancy after 18 months, and underscoring the high demand for flexible office space in and around Birmingham.
“More than ever before, smaller firms do not want to be tied into long office leases, so look to serviced offices for their office space needs. The Birmingham Business Park serviced offices are particularly sought after because of their excellent transport links next to the M42, Birmingham Airport and Birmingham International Railway Station, and their proximity to major manufacturers such as Jaguar Land Rover.”
Through KWB Serviced Offices Ltd, KWB is a shareholder in UBCUK, which presently operates nine serviced office centres across England. Using its office agency and Workplace office design, fit out and office move consultancy, in 2015 KWB acquired and refurbished 1310 Solihull Parkway for a client and agreed a 15 year pre-let to UBCUK. The Birmingham Business Park serviced offices comprise 200 workstations across two floors of serviced office space, a perfect opportunity for businesses requiring serviced offices in Solihull and Birmingham’s out-of-town office market.
John Bryce continues: “With demand for flexible offices and managed workspace on the rise, serviced office providers are looking to increase the number of workstations they can offer.
“In London, for the first time in the first six months of 2017, serviced office and co-working companies accounted for the largest share of office space leased. This exponential growth is one of the main reasons we formed KWB Serviced Offices, to focus the expert consultancy advice we offer to commercial property landlords, developers and operators in this sector.
“We can advise landlords on whether a serviced office is right for their commercial property, and how to go about creating their own serviced office centre, or we can introduce clients to serviced office operators to fill part or all of a vacant office building.”