In a deal that will add good quality stock to an office market that is severely lacking, Fountain House offices in Halesowen have been sold by KWB to Ruskin Properties, on behalf of Arkona Investment Holdings. Following the purchase, a floor of 15,000 sq ft, which is to be refurbished to Grade ‘A’ standard, has already been let to Intouch Games Ltd. The gaming company’s relocation to Fountain House is expected to create 100 jobs.
When Ruskin purchased Fountain House offices, they had two existing tenants, Structural UK and Third Financial Software, occupying just over 10,000 sq ft combined. Fountain House will now have more than a third of its 68,000 sq ft space let, with a new incoming tenant, Intouch Games Ltd, who is initially taking 15,000 sq ft.
Owner and operator of mFortune Online Casino, Intouch Games – who was recently named in the LSE’s annual ‘1,000 Companies to Inspire Britain’ – is creating around 100 jobs, many to be filled by the local talent pool. The company will be recruiting staff skilled in a variety of disciplines, from computer programming to marketing, and graphic design to call centre operations.
Furthermore, Intouch Games is expected to take an additional floor in the near future, doubling its commitment to Fountain House and so KWB, who has been retained to market the office space in Halesowen, will now focus on the forecasted remaining 30,000 sq ft.
The refurbishment of the offices, which is due to be take place, will include upgrading of windows, air-conditioning and common areas, and will be highly welcomed by local potential occupiers.
Malcolm Jones of KWB, pictured right, said: “The vast majority of available office space in the area is not of a condition that makes it attractive enough to potential occupiers to secure a letting. The work being carried out at Fountain House will provide Halesowen and the surrounding area with viable office space, and we expect to receive a significant number of enquiries regarding the property.”
Nic Burton of Ruskin Properties said: “Fountain House is a great addition to our growing portfolio. It’s a substantial body of offices and a significant property within the local market.
“We are delighted to be able to bring to market high grade offices in Halesowen. The quality of most stock currently available in the area is falling short of modern occupier requirements and expectations. Fountain House will offer a rare opportunity to potential occupiers – office space in Halesowen that can provide them with a fresh, welcoming, up-to-date place to work that is mechanically and electrically reliable.”
Occupiers looking for high grade space in this part of Birmingham’s out-of-town office market are advised to contact KWB regarding refurbished office space at Fountain House.
For more information regarding offices in Halesowen, please contact Malcolm Jones on 0121 212 5992 or by email.