Construction giant’s financial services arm sets up new base in Solihull

THE financial services arm of a global manufacturer has set up a base in Solihull.

Caterpillar Financial Services, part of construction and mining equipment manufacturer, Caterpillar, has taken the remaining space at Topland Group’s Friars Gate office building.

The US firm has agreed a 10-year lease on 13,800 sq ft, at a rent of £17.50 per sq ft.

The latest deal means the 73,000 sq ft Friars Gate is now fully let, with other occupiers including Bank of Ireland, Thyssen Krupp and SAI Automotive.

Topland bought the building in 2012 and in that time has taken back leases, refurbished the building ready for subsequent re-letting and built a Costa Coffee drive thru on the site.
 
William Davies, director of asset management at Topland, said: “This latest deal, which means that Friars Gate is now fully occupied, is testament to the refurbishment we have undertaken on the scheme and vindicates the proactive asset management decision that was made to make it more attractive to occupiers.  This is reflected in the very high quality of tenants we have attracted to the building.”
 
Bilfinger GVA advised Topland on the letting, while Caterpillar was represented by KWB.

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