Property Briefs: Overbury; Bulleys; Fisher German
Property investor BlackRock, working with asset manager Canmoor, has upgraded two office buildings at Birmingham Business Park.
National fit out specialist Overbury has completed the £1m refurbishment of 16,000 sq ft at 3100 and 3140 Park Square, which were acquired by BlackRock and Canmoor from Matterhorn in January 2017.
Overbury was appointed to bring the two units up to date by installing contemporary, high quality air-conditioned offices with new mechanical and electrical systems. It completed the work in a tight ten-week timeframe.
Rob Large, director of Canmoor, said both units needed significant refurbishment but the work had helped return the properties to market in Grade A condition.
He said the letting of 3140 within a week of the refurbishment been completed justified the investment.
Joe Huddleston, senior designer at Overbury, said: “We are delighted to have worked again for BlackRock and Canmoor at Birmingham Business Park, having delivered a similar project last year at Trident Court.”
Existing occupiers at Park Square include Canon, Mitsubishi and Penna. The vacant space is being marketed through GVA, KWB and JLL.
Black Country property investor A&J Mucklow has appointed Bulleys to handle a further four of its Midlands industrial estates.
The Halesowen-based group, founded in 1933, is the largest quoted investment property company in the Midlands.
Bulleys has handled lettings on the group’s Enterprise Trading Estate in Pedmore Road, Brierley Hill, for some time but its remit has now been extended to include four sites in Halesowen – Mucklow Hill 1 Trading Estate, Mucklow Hill 2 Trading Estate, Shenstone Trading Estate and Forge Trading Estate.
Within two weeks of the appointment, the largest available unit – 9,900 sq ft – on Shenstone Trading Estate was put under offer.
Max Shelley, senior surveyor, said: “We have strong links with A&J Mucklow and this is a massive vote of confidence in (us).”
One of the properties that will receive a strong focus is a 14,141 sq ft detached unit on the Forge Trading Estate – the largest currently available on any of the five sites.
Fisher German has been jointly appointed with Bulleys for all five estates.
A former recording studio has been brought to market in Worcestershire.
Severn House in Bewdley, which has views across the River Severn, was the former headquarters of a TV and graphics company.
Property consultant Fisher German is marketing the 3,510 sq ft two-storey office building to potential investors.
Available for offers around £375,000, the property has a passing rental income of £22,500 per annum.
A vacant rear ground floor office could add a further £9,000 per annum to the rent roll, while pre-planning discussions have been held with Wyre Forest District Council to add an extra floor for residential use.
Fisher German partner Dan Ballard said: “This really is a spectacular opportunity, either for owner occupier offices, which could also be developed to create an idyllic live/work unit with the finest views of the river, or for an investor or developer. We expect Severn House to be very popular and to shift quickly.”