Household goods retailer joins Virgin Media as tenant at business park
A business park in Solihull, which serves as the regional HQ to Virgin Media, has welcomed household goods retailer Perfect Home as a tenant.
PerfectHome has taken 13,300 sq ft of space at Eagle Court Business Park on a five year lease at £17.50 per sq ft.
Squarestone Growth acquired the 138, 000 sq ft property set across two office buildings on Eagle Court Business Park from Aviva Investors for £21.58m in August 2018. This transaction marked the fund’s largest acquisition to date and its debut in Birmingham.
As well as Virgin Media, which employs more than 1000 staff on site, Eagle Court has Rexel and Goldbeck Construction amongst its tenant line-up.
Paul Coulter, Squarestone Growth founding partner, said: “We are delighted to be bringing PerfectHome to Eagle Court. Representing 70% of the asset’s vacant space, securing this letting in such short order following our acquisition demonstrates the quality of the property and its ideal location, both of which were key attractions when looking to make our entry into the region.
“The Midlands will continue to be a target location for our UK regional office fund, with £37m already invested in the area following purchases in Derby, and Nottingham we are actively looking to acquire more in the region in 2019.”
Colliers and Cushman & Wakefield advised the landlord with Baker Proudlove advising the tenant.
