KWB’s appointment follows Canmoor’s purchase from Goodman late last year of six phases of offices on Birmingham Business Park, which comprise in excess of 200,000 sq ft of existing office space in Solihull. The significance of the purchase is seen as affirmation of the notable increase in demand for offices in Solihull since this time last year, particularly in the service industry sector.
With the ever decreasing availability of offices in Solihull and Junction 4 of the M42, more occupiers will be forced to move north up the M42 which will result in Birmingham Business Park being likely to experience a key year in 2014 with increased occupier demand. Under the business park’s new ownership, a fresh approach to marketing is being adopted, which is proving to be favourable with occupiers.
Canmoor’s ownership extends from small, self-contained office buildings of less than 5,000 sq ft within Bishops and Knights Court, up to corporate HQ buildings such as 4060 Lakeside, which totals 35,000 sq ft.
“We see Canmoor’s holdings as key to securing the future prosperity of the Solihull office market.”
Mark Robinson, Partner at Birmingham commercial property agents KWB, commented: “We are absolutely thrilled to be working with Canmoor on this instruction. The office buildings represent the highest quality office space on Birmingham Business Park. This gives us both existing office space to be marketed immediately, along with future pipeline supply which will be forthcoming when several absentee tenants’ office leases expire.
“With office space at Blythe Valley Park now 100% tenanted, this leaves no scope for the park to capitalise on the increasing level of demand for office space within the Solihull and M42 market. Therefore, with the existing and forthcoming supply of offices at Birmingham Business Park, we see Canmoor’s holdings as key to securing the future prosperity of the Solihull office market.
“We anticipate that demand will continue to increase in the latter part of this year and definitely in 2015, following completion of the runway extension at Birmingham Airport. With flights travelling directly to the west coast of America and to China, we see this as being a major draw to technology companies from both countries who have historically focused on the Thames Valley and Heathrow, but who are now able to exploit the highly skilled workforce that is available in Solihull.”
Birmingham Business Park remains the largest office scheme outside of Birmingham city centre with 1.5m sq ft of built stock, on-site retail amenities, a dedicated bus service and over 100 occupiers who use the park as their UK or European HQ. The most recent sizeable addition to Birmingham Business Park is Rolls Royce’s new facility, which totals 250,000 sq ft currently under construction with completion due early in the New Year.
For more information on office space options and specification, please contact Mark Robinson on 0121 212 5994 or email email@example.com, or view on website: