KWB seals the final deal on the highly successful 45,000 sq ft Topaz office park in Bromsgrove. Working with commercial property developer Maximus, KWB has seen this development from conception through to completion, and now to full occupation. The lack of remaining office space in Bromsgrove is now solid grounds for investment, says Malcolm Jones.
With Topaz now fully occupied, and KWB’s letting of 7,158 sq ft at Barnsley Hall to the NHS Redditch & Bromsgrove Clinical Commissioning Group, it is clear that businesses are faced with an extreme shortage of available office space in Bromsgrove.
The most recent transactions at Topaz, featured below, which are a mixture of both freehold and leasehold, are testimony to the attraction of Bromsgrove as an office location and its regional catchment which extends to Solihull, Birmingham, Quinton, Halesowen and Redditch, due to the M5/M42 accessibility.
|Office unit||Occupier||Office space|
|Unit 1||New HQ for national recruitment company The Best Connection||7,268 sq ft||Largest deal for office space in Bromsgrove for 2014|
|Unit 3/Unit 4 first floor||IT infrastructure provider, Prestige Technology Solutions||4,162 sq ft||Relocate their head offices from Halesowen|
|Unit 6 ground floor||Swedish bank, Handelsbanken||1,593 sq ft||New branch office|
|Unit 6 first floor||Software provider Fuelsoft||1,400 sq ft||Moved from their former offices in Redditch|
|Unit 7/Unit 8 first floor||UTC Carrier||4,185 sq ft||Relocated Mitsubishi air conditioning business|
|Unit 8 ground floor||Instinctive Technologies/ATS Reach||1,400 sq ft||Moved from their offices in Solihull at Blythe Valley Business Park|
Jon Hickton, Managing Director of Maximus said “KWB has acted on Topaz from the outset. Their in-depth knowledge of the local area, their strong regional coverage and their exclusive focus on offices have ensured a great return on our commercial property investment, with the office park now fully income producing.”
This drought of available office space in Bromsgrove is a call to action for commercial property developers and landlords to refurbish any existing stock that may be left in the area and to consider new build office schemes. Whilst this is an epidemic of requirement across greater Birmingham, nowhere is it more prevalent than in Bromsgrove.
Malcolm Jones (pictured right) confirmed: “There’s probably only about 20-30,000 sq ft of office space in Bromsgrove now remaining, and only a small percentage of that is really of a competitive quality. The rest requires refurbishment in order to appeal to occupiers looking to relocate within the area.
“As a result of this, there is currently very little opportunity for companies to find office space in Bromsgrove, with places such as Redditch heading in exactly the same direction.”
For more information, please contact Malcolm Jones on 0121 212 5992 or by email.