IMI deal makes it 110,000 sq ft of offices let on Birmingham Business Park in 2014

THE amount of office space let at Solihull’s Birmingham Business Park this year has risen to 110,000 sq ft following manufacturer IMI’s relocation to the scheme.

This represents more than one third of the total transactions for office space in Solihull and the M42 out-of-town market.

Canmoor purchased Birmingham Business Park in late 2013 and retained property agents JLL, GVA and KWB to market the remaining office space.

Since the acquisition, void office space has dropped in their ownership from 17% to 4%. New occupiers include eQ Technologic, Babcock, Longcross Construction and Chalcroft.

IMI moved from 4040 Lakeside to the adjacent 36,000 sq ft 4060 Lakeside, the largest office building currently available on the park.

The firm increased its occupancy by 8,000 sq ft in this deal, in order to accommodate the relocation of a subsidiary company.

There has also been interest in its previous building, 4040, with an announcement expected to be made soon.

Elsewhere on the park, Capita Business Services has signed a new lease at its offices in Knights Court.

KWB partner Mark Robinson said “Birmingham Business Park has succeeded through its attraction to a wide variety of business sectors, which has meant demand has been more sustainable than other locations.

“For example, this year we’ve seen occupiers in the automotive, TMT, recruitment, engineering and consultancy sectors take up space on the park, proving it to be a sound investment for Canmoor.”

Rob Large, director of Canmoor Asset Management, said: “To have attracted such a range of occupiers since we acquired the site is testament to the quality of the buildings, the superior working environment and, of course, the marketing efforts of our team.

“We had genuine belief that we were acquiring the premier out-of-town business park in the region and this has been more than illustrated by its great success.”