IM Properties (IMP) has signed up Zenith, the UK’s leading independent leasing, fleet management and vehicle outsourcing businesses, to a new 10-year lease at its One Central Boulevard HQ offices on Blythe Valley Park.
One Central Boulevard is currently undergoing a £5 million refurbishment to deliver 113,483 sq ft of grade A offices – offering the largest available floor plates on the M42 corridor. Zenith is taking a total of 20,635 sq ft, extending its existing space by 5,500 sq ft.
Tim Buchan, Zenith’s chief executive said Blythe Valley’s connectivity was a key factor in its decision to expand its presence at the business park, and that the decision completes its UK strategy to position itself in three top tier locations in the north, south and Midlands.
“It’s essential for us as a business to be able to bring our clients in by rail, bus and car. Blythe is certainly one of the best-connected business parks for road and rail links, however it’s also much more. Being surrounded by 122 acres of country parkland creates not only a fantastic first impression to clients, but is important to us for the health and wellbeing of our team.
Attracting and retaining the best talent is fundamental for any business and the drive by IMP to deliver further facilities and expand the business park provides for a very attractive working environment.
“The decision to extend our lease at Blythe follows a range of recent decisions that we have made about the future of our office space. Our office at the Transport Research Laboratory in Crowthorne remains one of the prime office developments in Berkshire and the decision to move our Leeds office to new premises in the Kirkstall Forge puts us in one of the most innovative developments in the North of England.”
A phased programme of refurbishment work is being carried out at One Central Boulevard by contractor Overbury, with improved communal facilities including break-out areas and new cafe facility – again another key attraction for Zenith.
Rob Hemus asset manager at IM Properties said: “Blythe forms a significant part of IMP’s portfolio in the Midlands and as a local property company we all take a great deal of pride in the development of the business park and its success. With some two million square foot already planned and a further 44 acres yet to be developed, it offers tremendous long-term opportunities. It’s essential we create a unique identity that will appeal to a broad range of occupiers.
“Zenith’s decision to remain at the business park and expand its offices is extremely important to us. They have been part of our journey to deliver first class facilities since we took over the park in 2014. Working in partnership with occupiers is an essential element of a more sustainable future and as such we need to work with companies to grow their businesses and deliver a long term real estate strategy.”
Will Ventham, director at CBRE said: “securing a firm like Zenith for Blythe Valley Park is testament to IM Properties commitment and investment into the park. Blythe Valley Park is widely recognised as the premier business park address in the Midlands and exciting times lie ahead.”
“We already have the capability of satisfying smaller requirements within Cornwall House and Aspen, focusing primarily on businesses seeking to leverage the opportunity that the park offers for growth and recruitment. These properties are now complemented by One Central Boulevard offering a unique prospect for occupiers of up to 60,000 sq ft to secure high quality Grade A offices in a landmark building.”
18,000 sq ft is to be delivered this spring, with a further 19,000 sq ft available in summer and an additional 20,000 sq ft ready for occupation in early 2017. Key occupiers at Blythe Valley include Siemens, Arup, Infor and Enzen.
IM Properties, based in Coleshill, is one of the largest privately owned property groups in the UK, with an investment and development portfolio of circa £900 million across the UK, Europe and US.