Watling Real Estate, asset managers to one of the most prominent office developments in the Midlands’ out of town market, have secured two significant lettings totalling circa 50,000 sq ft.
Calor Gas Ltd has taken 27,976 sq ft, the whole of the second floor at The Point, Warwick, and Workforce One UK Ltd will occupy 21,540 sq ft, on the first floor, both on new ten year leases.
The Point is owned by Jersey-based HEREF Warwick Ltd forming part of the wider Augusta Fund managed by Watling.
Directors Alan Ryall and Chris Davies of Watling Real Estate instructed joint letting agents Mark Robinson and Charlotte Fullard at Avison Young and Michelle Mills at CBRE.
Chris Davies, director of Watling Real Estate, said: “The Point has undergone a comprehensive refurbishment providing the building with a modern, high specification finish with extensive amenity space.
“After a fairly intense period of onsite asset management, The Point has become one of the most successful out-of-town office buildings in terms of letting performance regionally – certainly in the Midlands – further supported by continued occupier demand.”
Both the quality of accommodation and the location of The Point was a key factor in attracting significant interest from large corporates.
It is just minutes from Warwick Parkway with rail connections to Birmingham in 26 minutes and London Marylebone in 1 hour 34 minutes, with Birmingham International Airport around 30 minutes by road.
Michelle Mills, director at CBRE, led on the Calor deal with Calor advised by LSH. Mark Robinson, director at Avison Young, headed the Workforce One UK deal.
Stephen Baker at law firm Womble Bond Dickinson acted for Watling Real Estate, with Jonathan Wright at Knights plc advising Calor Gas Ltd, and Douglas Armstrong at BPE Solicitors LLP instructed by Workforce One UK.
