Serviced office specialist, UBCUK, has announced the creation of a new serviced office centre, located in existing, vacant offices on Birmingham Business Park. Set to provide over 200 workstations, the property consists of nearly 16,000 sq ft of office space, and was recently bought from Aberdeen Asset Management. The building was pre-let to UBC, with KWB acting on behalf of the new landlord, Aequus Land, throughout.
KWB and Aequus Land saw the opportunity to buy the property from Aberdeen Asset Management, represented by JLL. KWB also created a pre-let to UBCUK of a 15 year lease, securing tenancy for the property and creating instant income generation for Aequus Land’s investment.
The property in question is one of the original buildings on Birmingham Business Park. Classed as a pavilion style property, the offices in Solihull are now being refurbished by Aequus Land before UBCUK moves in and welcomes new tenants.
Already providing office space for over 500 businesses across 10 national locations, UBCUK’s interest in the property stemmed from the sheer number of enquiries received for offices at Birmingham Business Park, and the surrounding area. There continues to be a high level of SME interest in the park, due to its prosperity, and proximity to Birmingham Airport, International train station as well as J6 of the M5.
KWB’s John Bryce, pictured right, said “Bringing a new serviced office centre, care of UBCUK, to Birmingham Business Park is fantastic news for the area. We encounter many successful, growing companies who are currently of a size where serviced offices are the most viable property option.
“Having worked on behalf of Aequus Land to acquire the property, from Aberdeen Asset Management, and now seeing it through refurbishment; we know that UBCUK can expect a high level of demand for the property’s 214 workstations.
“Birmingham Business Park has led the resurgence of popularity for offices in Solihull. Availability at the park has diminished significantly in the past 18 months, and KWB has been the dominant agent quarter after quarter during this period, securing healthy-sized, traditional lettings. A serviced office centre ensures that smaller companies can have a base in Solihull, at the most established business park in the region.”
When refurbishment is complete, UBCUK will offer refitted interior space with new office and meeting room furniture, reception amenities, lounge and kitchen areas, IT and telecoms connections.
Richard Johnson, Property and Acquisitions Director at UBCUK, commented: “We are delighted to continue what is proving to be a fantastic year for UBCUK with the acquisition of a new property on Birmingham Business Park.
“This latest addition to UBCUK’s growing portfolio will provide SMEs and larger firms with a flexible workspace environment in a fantastic location close to Birmingham Airport. We are currently undertaking a full refurbishment of the interior space with a view to opening in August 2015.”
KWB continues to look for similar opportunities in the region and urges property developers in the area to consider refurbishing existing space, as well as speculative development opportunities.