Matterhorn capitalises on KWB’s Birmingham Business Park success with Park Square purchase
KWB client, and former owner of London’s Earl’s Court, Matterhorn Capital, has purchased the 65,000 sq ft Park Square office scheme at Birmingham Business Park, Solihull. KWB has now been retained to market vacant office space.
One of the most modern office schemes on Birmingham Business Park, Park Square provides 65,000 sq ft of high quality Grade ‘A’ office space in Solihull, across five buildings. 27,000 sq ft of Park Square’s office space is currently vacant. 9,000 sq ft of the vacant space had already been refurbished prior to the acquisition, and now Matterhorn, advised by KWB, has invested in speculatively refurbishing a further 12,000 sq ft. This work is currently underway and scheduled to be ready for occupiers in June 2015.
Park Square offices have been well received by occupiers in the past. In recent years, the property has secured substantial lettings with Geodis, Cunningham Lyndsey and Mitsubushi Air Conditioning, and KWB is looking forward to securing more occupiers of this calibre.
As joint commercial property agent, with Phillipa Pickavance Real Estate, KWB’s Mark Robinson said “Having provided lease advice to Matterhorn on the acquisition of Park Square, KWB is delighted to be involved with the marketing of the office scheme. We’re very pleased that the client is speculatively refurbishing 3180 Park Square. This building totals 12,000 sq ft and we’re looking to let this to a single occupier.
“To justify speculatively committing this level of resource in refurbishment to a property of this size, highlights the level of demand that we’re seeing in Birmingham’s out of town office market.
“Furthermore, it reaffirms the demand we see specifically for Birmingham Business Park. In addition to the quality and size of space available, its proximity to the transport infrastructure provided by Birmingham Airport, International Train Station and J6 of the M42, continues to be a big selling point.”
KWB is now taking enquiries on the refurbished office space at Park Square. With a quoting rent of £16.50 per sq ft, the offices benefit from air conditioning, fully raised access floors, suspended ceilings with recessed lighting and an excellent parking ratio of 1:197 sq ft.
For more information on Park Square and other offices in Solihull and the M42 corridor, please contact Mark Robinson on 0121 212 5994 or email mrobinson@kwboffice.com.
