Grade A Birmingham office building secures full occupancy

Regional REIT has revealed its 118,530 sq ft Smallbrook Queensway building is fully let after an existing tenant increased its occupancy by taking more than 29,000 sq ft.

Global Banking School has taken the remaining Grade A office space on the fourth and fifth floors of Norfolk House. The private higher education provider already occupied the ground, first and third floors totalling 44,245 sq ft, with Accenture taking the second floor.

When combined, Global Banking School’s lettings provide an annual rental income of £1.4m. The new lease is to December 2037, with a break option in 2032 to be coterminous with the existing GBS lease.

Norfolk House comprises 92,431 sq ft.of Grade A office space which underwent a substantial internal refurbishment programme in 2017-2018.

Stephen Inglis, CEO of London & Scottish Property Investment Management, Asset Manager commented: “Following the completion of our refurbishment programme, we are delighted to achieve 100% occupancy of the offices within Norfolk House, one of the largest value assets in the REIT portfolio.

“GBS was attracted to the high standard of the recently completed refurbishment and its excellent location in the heart of Birmingham city centre, adjacent to Birmingham New Street railway station. This is a further demonstration of positive leasing activity in the region.”