Automotive group concludes major new lease deal for Blythe Valley Park
IM Properties has completed a 15,237 sq ft prelet at its flagship Blythe Valley Park development.
The company has confirmed a new lease agreement with Warwickshire-based automotive retailer Rybrook Holdings for a new facility to back up its dealer operations in Birmingham and Solihull.
The deal marks the first part of a 260,000 sq ft of office and commercial space scheme due to be delivered at BVP this year.
Rybrook Holdings, which is one of the largest privately-owned premium franchise automotive dealerships in the UK, will use the building as an aftersales and preparation centre for its Rolls-Royce Motor Cars Birmingham, McLaren Birmingham and Rybrook Specialist Used Car sales centres, located in Hockley Heath.
The new Rybrook Specialist Technical Centre will offer customer lounge and boardroom facilities, complete with plenty of customer parking and the latest workshop technologies.
The letting is part of a major development push on BVP, which will see an end value in excess of £35m and some of the first speculatively-built offices and commercial space to be delivered on the M42 in a decade.
Lewis Payne, development director, IMP, said: “Rybrook’s arrival is an important prelet for IM Properties. It shows the opportunity to create purpose-built premises alongside a programme of refurbishment of existing space which has been ongoing for the past three years.
“The Rybrook development will be closely followed by a new headquarters for Prologis and the first speculatively-built office building on the park, which will be delivered in the spring. Hot on its heels will be Connexion, a speculative development of five new high quality logistics buildings available in the summer.”
He said the ultimate aim was to create a thriving new community, and a truly mixed-use offer combining 750 homes, offices, commercial and leisure space.
“It will break the mould of what is perceived to be a business park,” he added.
Peter Hemus, property director at Rybrook said: “Blythe Valley Park was a natural choice for this new facility given its proximity to our dealership at Hockley Heath. The Park enjoys great connectivity to the motorway network and provides a quality of environment that is in keeping with our premium brands and caters for the wellbeing of our staff. The new facility will also provide important meeting space for the Rybrook business being central to our operations across the country.”
Key occupiers at BVP, located off junction 4 of the M42, include Gymshark, PKF Cooper Parry, Arup, Siemens, Infor, Oracle, Abbot and Zenith.
Pictured from left: Rebecca Maughan, IM Properties Project Manager, Peter Hemus, Property Director at Rybrook and Lewis Payne, IM Properties Development Director
