Independent property advisor GVA and KWB have completed the sale of Unit 5 at The Pavilions, Solihull to South West News Services, making it the third building on the site to be sold since the start of 2013.
The 1,925 sq ft unit, purchased by South West News Services (SWNS), the UK’s largest independent news agency, will be used to relocate its recently-acquired NTI Media business from the city centre to Solihull.
Situated just off Junction 4 of the M42, the Pavilions comprises 12 self-contained, two-storey office units, set across two acres. Less than two miles from Solihull town centre, The Pavilions also offers excellent transport connections by both road and rail.
The Pavilions has proven to be popular with companies looking for out-of-town office space, with 86 per cent of units either sold, let or under offer, leaving just two units extending to 2,323 and 3,164 sq ft, providing the only Grade A buildings of this type available in Solihull for freehold purchase and ready for immediate occupation.
Adrian Griffith, Associate, GVA said: “With three units sold and one more unit under offer, this is a fantastic first half of the year for The Pavilions and goes a long way to reinforce the message that this is one of the best out-of-town office locations in the Midlands.
“This is also a great demonstration of the appeal of the out-of-town office park, as South West News Services will be relocating from Birmingham City Centre.”
Nigel Iskander, SWNS director, said: “The Pavilions is an established and successful business park in a great location. With its BREEAM ‘Very Good’ rating, the office accommodation standard is excellent and has been finished to the highest specification. It’s central UK location is perfect for us and I am exceedingly pleased that we have been able to secure this building.”
Only two units of 2,323 sq ft and 3,164 sq ft remain available to purchase at the Pavilions with prices from £360,000.
Each building offers occupiers an open plan environment, supported through excellent car parking and private road access. There is a high level of sustainability and environmental awareness built into the site, with each unit offering dedicated bike parking and shower facilities for employees who choose to cycle or walk to work.
Set in an established office park location, The Pavilions offers a range of local amenities in the immediate area, including two David Lloyd Health Clubs, Sears Retail Park and a number of high quality bars and restaurants.
Mark Robinson of KWB, said: “In addition to the existing buildings we are also marketing a cleared site of 1.83 acres which has consent for a second phase of the scheme comprising 12 courtyard office buildings. Alternative complimentary uses could also be considered here, such as a doctors surgery, subject to planning.”
