Two expanding engineering firms have moved into a huge warehouse with offices in central Birmingham in a deal arranged by city property agents Siddall Jones.
Baker & Finnemore and Cirteq, which both specialise in making precision fasteners, will mainly use the 10,000 sq ft property at Unit 6-7, Camden Drive in the Jewellery Quarter for storage.
Both companies have their headquarters in Keighley, West Yorkshire, and are owned by German group Titgemeyer, which has its UK base in Tipton.
Siddall Jones, acting for landlords Pall Mall Estates, struck a rental deal worth around £47,500 per annum over ten years for the warehouse, with a potential break clause in 2025.
Ryan Lynch, associate director of Siddall Jones, explained that the break clause was in case the landlord wanted to redevelop the site for city centre apartments at a future date.
Mr Lynch said: “We are delighted to have agreed a rental to Cirteq and Baker & Finnemore with a deal representing circa £4.75 per sq ft on a 10-year term.
“Due to the appetite for residential development we have safeguarded our client’s position by including provision for a rolling development break, upon 12 months notice, from the 4.5 year anniversary.”
The warehouse is based on the junction of Camden Drive and Camden Street, just off the main A457 road, and is only half a mile from Birmingham city centre.
It is a substantial ground floor warehouse with electronically operated roller shutter doors and benefits from concrete flooring, high bay sodium lighting and gas heating.
The offices at the premises have a shower room, toilets and kitchen facilities, while a secure yard at the front provides excellent loading and car parking space.