44,000 sq ft snapped up at Norfolk House
Regional REIT, the regional office specialist, has completed a new lease of 44,245 sq ft of previously vacant Grade A office space to Global Banking School at Norfolk House, Birmingham.
The annual rent amounts to £840,991 (£19.01 per sq ft), with a 15 year lease including an option to break after 10 years.
GBS is a growing private higher education provider offering a range of sector relevant courses across eight campuses currently, including London, Manchester, Birmingham, and Leeds.
Norfolk House comprises of 115,780 sq. ft. (EPC C) of which 89,681 sq. ft. is office and the balance is retail space. The office building underwent a substantial internal refurbishment programme in 2017-2018, providing accommodation over six floors.
Stephen Inglis, CEO of London & Scottish Property Investment Management, Asset Manager commented: “GBS was attracted to the high-standard refurbished property due to its ideal location, adjacent to Birmingham New Street railway station, and it being one of the few properties in Birmingham offering flexible floor plates in excess of 10,000 sq ft”.
