Midlands-based property investor Colmore Capital has fully let Quartz Point Business Park, with Electrical and Mechanical services provider Dodd Group doubling its existing footprint.
Dodd Group is a privately-owned family business and ‘Midlands’ success story’ since its founding over 75 years ago and has doubled its footprint to in excess of 5,000 sq ft on a five-year lease.
Last year, the group signed a five-year lease on 2,500 sq ft of self-contained office space to service new contracts. Following its success over the last twelve months, Dodd Group has outgrown its office and has taken the adjoining unit to create a single self-contained space.
Matt Lewis, Managing Director of Dodd Group’s Property Care Division said: “We are delighted to have secured this additional space to meet with our growth requirements. Our team in the region has expanded significantly as has our forward order book and so it was perfect that we could take on the adjoining unit. “
Integral to Dodd Group’s extended commitment at Quartz Point was its proximity to the M42 and wider UK road network, ample parking for its whole team and Colmore Capital’s ability to work collaboratively to ensure the office premises met the needs of the organisation’s rapidly growing operations.
This included the self-contained units that could be easily configured to provide a welcoming client-facing area and a distinct back-of-house workspace.
Guy Revell, Associate Director at Colmore Capital said: “The high-quality facilities and location offered at Quartz Point are proving attractive to an increasing number of long-term committed tenants.
“Dodd Group is the latest occupier to recommit and expand at Quartz Point, which has also seen other long-term customers including Accenture and Briggs & Forrester extend their leases and expand their footprint over the last few years.”
The deal signifies a new headline rent for the park, which has seen significant growth since acquisition in 2017, driven by the delivery of asset management initiatives including a new car park and plant infrastructure. The long-term occupiers are also set to benefit from the new Arden Cross HS2 station and surrounding regeneration, with the station itself due to be less than 500m away from the park and a pedestrian route from Quartz Point agreed by HS2.
Guy Revell continues: “We are proud that Quartz Point meets the evolving standards required by organisations in need of office space that will work for them in the long-term. The Park is 100% electric, the refurbishment for Dodd Group achieved a B(28) EPC rating and we have recently completed the installation of new communal EV chargers. One of Dodd Group’s key requirements was the ability to install dedicated EV chargers for its fleet and we’re pleased to support a like-minded company in this area.
“Quartz Point has seen great success in terms of tenant attraction and retention during our ownership. It’s been very rewarding to drive the park’s offer forward and reach 100% occupancy, particularly with a final deal that supports an existing customer’s growth.”