M42 and Solihull office market review Q1 2024

Key M42 / Solihull office transactions

Continuing the trends outlined in Q4 2023, the majority of transactions (6) this quarter have been for office space under 5,000 sq ft.

In terms of location, the largest deals took place in Solihull town centre and at Blythe Valley Park.

The next two largest transactions were in Shirley, indicating the popularity for office space closer to the town centre. There were two deals of circa 2,500 sq ft at Birmingham Business Park.

Robert Half secures town centre location

In the largest deal of Q1, Robert Half has taken 11,001 sq ft at AIR in Solihull town centre.

The recruitment consultant required a town centre location for its flagship Midlands head office and has moved its premises from Washington House on Starley Way, near Birmingham Airport.

Signalling the company’s statement of intent within Solihull and the Midlands, Robert Half now occupies the second floor at AIR, 35 Homer Road. The landmark workspace is located just four minutes from Solihull train station and provides easy access to the M42 and Midlands motorway network.

The new workspace will be home to the company’s West Midlands branch, its global business consultancy branded as Protiviti, and its Corporate Services headquarters. The move represents slightly less space than they previously occupied, but they are now housed on a single floor.

AIR Solihull has been comprehensively refurbished with contemporary space providing excellent natural light and areas for collaboration. Occupiers can take advantage of impressive on-site amenities such as fitness studio, café, cycle hub and rooftop terraces.

St James’s Place relocates within Park

Financial advisors and professional services firm, St James’s Place Wealth Management Group has relocated its offices within Blythe Valley Park, and will move to recently upgraded space at One Central Boulevard this May.

Previously occupying 21,375 sq ft at St James’s Place House, the business has downsized to take 9,272 sq ft at One Central Boulevard. Employees will be able to enjoy stylish new amenities including communal breakout areas, meeting pods and a café area with outdoor seating.

At One Central Boulevard, St James’s Place will join occupiers including Infor, Wavenet, Oracle, Siemens, GKN, Aerospace and Taylor Wimpey.

St James’s Place is currently in the process of fitting out its new offices and will move into its new office space in May, “marking a significant chapter in the company’s journey and continued success”.

Accountancy firm upgrades to Cranmore

Accountants and professional services firm, Shareef & Co, has purchased Unit 4 Highlands Court in Cranmore, Shirley.

Shareef & Co has joined the well-established Cranmore business district after previously occupying 18-22 Stoney Lane in Yardley. KWB acted as the marketing agent for the 5,102 sq ft of modern, self-contained office space over two storeys.

Shareef & Co is now well-positioned just two miles from Solihull town centre and 1.5 miles from J4 of the M42. The relocation to larger, higher specification office space also provides the business with ample parking facilities.

Epwin Group relocates to Friars Gate

Epwin Group, a leading manufacturer and supplier of energy-efficient and low-maintenance building products, has taken 3,398 sq ft at Friars Gate, Solihull.

The business has secured a rental deal on the ground floor of Friars Gate, relocating from its former site just five minutes’ drive away at Stratford Court.

Accessed via an impressive reception, Friars Gate comprises 71,494 sq ft of high-quality office space, arranged over ground and three upper floors with two cores.

Friars Gate occupies a prominent position on the A34 Stratford Road, one of the main arterial routes providing direct access to the national motorway network. The offices are five minutes’ drive from Solihull town centre and just a few minutes’ drive from J4 of the M42.

Epwin Group’s new home is surrounded by a variety of amenities including Tesco Superstore, David Lloyd, Virgin Active, Village Hotel and Sears Retail Park. The building also benefits from a Costa Coffee drive thru located opposite the building.

Tel Group takes Coleshill office space

Specialist technology solutions provider for UK schools and businesses, Tel Group, has signed for 2,775 sq ft of space at Unit 13 The Courtyard in Coleshill.

Tel Group has moved to Unit 13 The Courtyard from its former premises at Virginia House in Olton. Unit 13 The Courtyard is a two-storey, detached courtyard style office building of brick construction, underneath a pitched tiled roof. The building consists of several open plan offices with some private offices and a boardroom. There are also 16 on-site car parking spaces.

Based to the north of Coleshill town, Tel Group’s new base offers excellent transport links. It’s within walking distance of Coleshill Parkway Railway Station and has easy access to J9 of the M42 and J4 of the M6.

Bann Commercial buys 6100 Knights Court

Freight transport company, Bann Commercial NI has acquired 6100 Knights Court at Birmingham Business Park. The modern, two-storey building comprises 2,629 sq ft of office space arranged over ground and first floors, together with a double-height, fully glazed reception.

Bann Commercial NI now occupies a prestigious office location on Birmingham Business Park. The park’s attractive landscaped grounds of 148 acres, excellent motorway connections and proximity to Birmingham Airport and Birmingham International train station, make it the premier business park in the Midlands.

Boden Group expands at Quartz Point

Following a successful last 9 months, Boden Group has expanded to take the first floor (1,354 sq ft) of 12 Quartz Point. Located opposite Birmingham Business Park and close to the M42, Quartz Point is an attractive, private crescent of office buildings arranged over ground and first floors.

Recruitment specialist for the facilities management and property sectors, Boden Group previously occupied the ground floor of the self-contained office space at Unit 12.

With the addition of the first floor, Boden Group’s employees benefit from open plan, Grade A office space with an excellent specification, as well as spacious meeting rooms to support team collaboration.

A growing and resilient events industry

The National Exhibition Centre (NEC) is a major employer and venue that attracts visitors and investment to Solihull and the Midlands from across the UK and beyond.

According to recent research from The Events Industry Alliance (EIA), The UK’s exhibition industry is on a promising post-Brexit, post-pandemic path to growth and recovery.

The 2023 Size and Scale Index for Exhibitions (SASIE), published March 2024 and conducted with the NEC Birmingham and three other primary UK venues, found that these venues hosted approximately 38% of all exhibitions held in 2023. They hosted a higher proportion of trade exhibitions, accounting for 49% of the entire portfolio, and also hosted larger exhibitions overall, with the highest proportion of ‘large’ and ‘very large’ exhibitor numbers.

The report follows the NEC Group’s appointment of its new CEO in Q3 2023, Melanie Smith CBE, succeeding Paul Thandi CBE, DL, who moved to the position of chairman after nearly 17 years as CEO.

Melanie will work to implement the company’s vision to be Europe’s leading live events business across its entire venue portfolio including the NEC and ICC Birmingham, Vox Conference Venue and Birmingham’s two live music arenas – Utilita Arena Birmingham and Resorts World Arena.

Enhancing connectivity of the region

• M42 J5 and J6 northbound link road – The new link road (J5a) between J5 and J6, designed to improve safety and capacity on the M42, is currently under construction and expected to be completed later this year. By reducing congestion and increasing capacity at J6, it will improve access to key businesses and locations, such as Birmingham Airport, and support economic growth in the area.
• HS2 Interchange station – The design of a new car park for HS2 station, Solihull Interchange, was approved by planners in April 2024. The scheme for Interchange Station was given the go-ahead by Solihull Council.
• EV chargers – Solihull Council has awarded a contract to pan-European charge point operator, Qwello, to install 500 new EV charging points within Council car parks and on-street destinations by 2026. Phase One is expected to go live this summer and will see over 150 charging points installed across nine locations within Solihull and surrounding areas.

Investment and business support

• Grants for Solihull businesses to expand or relocate – Announced in Q1, Solihull business owners can receive tailored business support and access to finance from the Birmingham and Solihull Growth Hub, which is currently offering two grants tailored for Solihull businesses, ranging from £2,500 to £100,000 to invest in new premises or equipment, or help with reducing environmental impact.
• Business support schemes – In conjunction with the Greater Birmingham Chambers of Commerce, the Amazon Innovation Accelerator is open to businesses in the West Midlands in the manufacturing, engineering, logistics, retail or related industries who employ 50+ members of staff or a turnover of over £1 million. It provides a free training programme to drive innovation and growth, with core workshops taking place at Amazon’s Sutton Coldfield robotics fulfilment centre.
• Mell Square redevelopment – Towards the end of last year, Solihull Council announced Muse as its preferred development partner to bring forward the ambitious town centre’s redevelopment. In Q1, Muse commenced its programme of public engagement to inform the next stage of master planning. Over the next ten years, Muse will help enhance the town centre with a significantly improved retail offer, expanded night-time economy and new high-quality housing.

Outlook for Solihull office market 2024

As it stands, Q1 2024 is similar to Q4 2023 in that whilst we’ve seen plenty of enquiries for office space across Solihull and the M42 corridor, the larger deals are taking longer to complete. However, we can look to the coming months with the knowledge that several significant transactions are nearly over the line.

We can also recognise the popularity for smaller, self-contained buildings that have been refurbished to a high level, as well as the opportunity to purchase freehold office space, which Solihull has demonstrated this quarter with three of its nine transactions.