Demand for office space around Edgbaston is at an all-time high according to figures released from Calthorpe Estates.
In the last financial year over 30 leases and licences were agreed and four commercial leases signed since April with new organisations locating to Edgbaston or existing ones relocating within the Estate.
With Lorica Insurance Brokers, a UK top 30 independent insurance broker, moving to 43 Calthorpe Road from Highfield Road the current void is at its lowest at 1.5 per cent with a limited number of properties currently available from Calthorpe Estates.
The increased interest in space to the south west of the city is a result of a number of factors. As Jayne Herritty, Sales and Marketing Director of Calthorpe Estates explained: “We are receiving requests from a variety of customers, who are attracted by the individual buildings with excellent car parking provision and the new bars, restaurants, retail and leisure facilities that we are creating in Edgbaston Village.
“The on-going development of Edgbaston Village is undoubtedly having a positive impact as demand for office space as much needed amenities are opening in the area to support the working community.
“Edgbaston has always had a loyal following for out-of- the-city office space due to the attractive buildings and excellent parking but the lack of transport connectivity and amenities held it back. Now these are being addressed with great places to eat, shop and relax opening, and plans to introduce the Sprint and to extend the Metro making locating here a destination of choice.”
Along with new organisations such as Care Fertility arriving, many like Lorica are choosing to remain on the Estate moving to new premises to suit their business needs.
James Sellers, Branch Director at Lorica Insurance Broker said: “We moved to Edgbaston eight years ago and the location is excellent for meeting corporate clients, therefore we were keen to remain here. The new office at Calthorpe Road has allowed us to reconfigure the space to meet our changing business requirements and has the benefit of car parking for visitors and staff.”
43 Calthorpe Road was previously the main office of WPR Agency, that last year moved two doors down the road to 39-40 Calthorpe Road, as they expanded to a 10,000sq ft, having been on the Estate over 12 years.
Lorica’s former office at Highfield Road has been let to Care Fertility.
