Two new tenants take space at REI’s Colmore Row offices

Two companies from the property sector have taken space at the 75-77 Colmore Row offices owned by Real Estate Investors, the Birmingham-based property investment company.

One of the new tenants is Naismiths, the real estate consultancy, which has signed a six-year lease for 2,520 sq ft of offices at £22.50 per square foot for its building surveyors team, which was looking to move into the city centre.

The second tenant is Bond Wolfe Auctions, the property auctioneer launched earlier this year by chief executive Gurpreet Bassi and managing director Ian Tudor, formerly the heads of residential and commercial auctions at the Bigwood auctions business.

Bond Wolfe Auctions signed a 10-year lease for 2,605 sq ft of offices to act as its new headquarters, a deal that was also agreed at £22.50 per square foot.

Ian Clark, Asset Manager at REI, said: “Both deals prove that there is a strong demand for traditional, well-located office spaces.

“While there are many big and shiny modern box-style office developments going ahead at the moment, not everyone wants that kind of space and we’re keen to serve the general market that simply wants high quality locations.”

Gurpreet Bassi, chief executive of Bond Wolfe Auctions, said: “While our business serves the entire Midlands regions, we wanted our new headquarters to be based right in the centre of Birmingham and are very pleased with this space at 75-77 Colmore Row.”

LSH acted for REI on the deal with Naismiths.