KWB has sold a rare self-contained suite of Solihull office space in a town centre apartment block to a financial planning firm.
Acting on behalf of a private developer, KWB’s Office Agency team sold the 1,862 sq ft office suite on the ground floor of The Exchange, Poplar Road, Solihull, to the unnamed financial planners on a virtual freehold lease of 999 years, for an undisclosed price.
Located in the centre of Solihull, close to Touchwood Shopping Centre and three minutes’ walk from Solihull railway station, The Exchange is a newly converted apartment block with a ground floor office suite.
Malcolm Jones, Head of Office Agency at KWB, said: “It’s rare to find office space for sale in Solihull town centre, so it’s no wonder that the opportunity to acquire the office suite at The Exchange was snapped up.
“It’s even rarer to find such office space in a building where the upper floors have been converted to residential. Nevertheless, the success at The Exchange shows the possibilities and opportunities to other commercial property developers, presently considering residential conversions, of retaining the ground floor as office space.
“There are plans in place to convert up to 200,000 sq ft of office space in Solihull town centre to residential accommodation. With office space in short supply, a vacancy rate of only 3% in fact, my question to landlords and investors would be that, perhaps, a mixed-use approach would be more profitable?”
KWB can provide detailed and impartial advice on the opportunities that an office or mixed-use project could yield. As such, any landlords or investors considering their options on property they own in and around Solihull are advised to get in touch.
KWB is one of the most active office agents in the Solihull and M42 corridor. Each quarter it produces comprehensive M42 and Solihull Office Market Research, which can be found here.