Financial services group agrees 10-year lease on office expansion

Pembroke House
X The Business Desk

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A financial services company has acquired a 10-year lease on a new property in the Midlands in a deal advised out of Birmingham.

Bibby Financial Services has taken the lease on 16,514 sq ft at Pembroke House in Banbury, in a deal negotiated by Colliers International on behalf of landlord XLB Property.

BFS has occupied the first floor of Pembroke House since September 2016 and this latest deal sees it relocate a further 80 staff to the Grade A office space, becoming the building’s sole tenant.

On the letting, Douglas Bonham, Director at Colliers International in Birmingham, who advised the landlord in the deal, said: “Pembroke House is the ideal location for BFS as it boasts excellent connectivity between London and Birmingham and has the added benefit of being within a catchment area and labour pool of over 200,000 people.

“Refurbishment of the new space is now underway and will be ready for occupation in September 2018.”

David Postings, Global Chief Executive of Bibby Financial Services, added: “As a global business with ambitious growth plans, we require a space that can accommodate our growing teams, both now and in the future.

“We are delighted that we have been able to take on additional space at Pembroke House and we look forward to the work being completed.”

Alexander Johns, XLB Property, said: “Bibby Financial Services is a strong covenant for Pembroke House and the fact that they have decided to take additional space is testament to the building’s excellent facilities and unrivalled location.”