European trade body swoops for office building

A 5,000 sq ft office building on Birmingham Business Park has been sold to a European trade body.

Acting on behalf of a private investor, Malcolm Jones of KWB, sold 2450 Regents Court, a 5,364 sq ft self-contained, two storey, courtyard office building, to existing tenant Hire Association Europe, for an undisclosed sum.

Hire Association Europe (HAE) is a trade body representing plant, tool and equipment hire, with a membership base of 900 members based in the UK, Europe and across other parts of the world.

HAE’s 14 staff occupy the first floor of the building, while National Fostering Agency rents the ground floor.

HAE managing director Graham Arundell said: “As we were approaching the end of our 10 year lease, we made the decision to purchase an office, to secure a home for the organisation and to help control our future property costs.

“It was therefore an easy decision to acquire our current office building where we are happy and settled, when the opportunity arose.  The purchase represents a good investment for our members’ funds.”

Jones added: “The vacancy rate for office accommodation in Solihull and the M42 is at a 10 year low, so it’s rare that an office freehold becomes available.  When they do they are particularly sought after, as many organisations wish to become owner / occupiers.

“Birmingham Business Park is a highly desirable location where there are still opportunities to acquire office space.”