The largest letting in more than two decades has been agreed at Birmingham Business Park, the most established out-of-town office destination in the Midlands.
A total of 37,509 sq ft of Grade A office space has been snapped up by the Government on a 10-year lease – marking the largest deal at the Park in 22 years.
Strategic real estate advisor, Avison Young, and Savills acted on behalf of Savills Investment Management to negotiate the deal for the two self contained Grade A office buildings, one at 22,235 sq ft and the other 15,274 sq ft.
This latest deal follows a string of significant government office deals in Birmingham. The Office of the Public Guardian recently signed an agreement for 67,000 sq ft space in the city’s Victoria Square House, while in 2021, it acquired the remainder of B1 in the Jewellery Quarter, where 65,000 sq ft of space is home to the Department for Work and Pensions and Department for Levelling Up, Housing and Communities.
Adrian Griffith, Principal and Head of Birmingham Office Agency at Avison Young said:
“This sizable deal at Birmingham Business Park is a real post-Covid success story – being the largest since 2000 – highlighting the strength and resilience of the region’s office market. It demonstrates the confidence in Birmingham’s out-of-town market and once again reaffirms the Government’s commitment to the city and region.”
“After a strong ending to 2021, Birmingham’s out-of-town market is rallying, and landmark deals like this highlight just how the market is once again improving.
“The fact that we have stand out sites like Birmingham Business Park is helping to draw businesses back to the workplace, and with its scale, quality and track record, provides a compelling offer for government departments.”
Birmingham Business Park is located off Junction 6 of the M42 and Junction 4 of M6, and is home to 150 businesses including Rolls Royce, IMI, Fujitsu and GKN employing over 7,000 members of staff.
A multi-award winning location for walking and cycling and an International Corporate Social Responsibility recognised business park, the destination offers ‘social value’ with wellbeing and sustainability at the heart of its offer.
Avison Young and Savills acted on behalf of Savills Investment Management, whilst the Government was represented by JLL.