Bond Wolfe snaps up West Brom Building Society HQ in new deal
WEST Midlands property company Bond Wolfe, one of the region’s largest private landlords and commercial lettings agencies, has moved quickly to snap-up the current West Bromwich Building Society headquarters in an undisclosed deal.
The firm, owned by West Bromwich property entrepreneur Paul Bassi, took the opportunity to acquire the property after the building society announced its intention to quit its home town and relocate to new premises at North Point on the Waterfront development at Merry Hill.
Bond Wolfe already has a number of notable properties in West Bromwich including its own current headquarters at West Plaza, currently let to Premier Travel Inn, along with Landchard House, Victoria House and several others in the town centre, together totalling more than 300,000 sq ft.
Managing partner James Mattin said the firm now intended to move its own business into the building society’s current home once it vacates the property next autumn.
“Purchasing such a local iconic building is further testament to the firm’s commitment to the area and represents significant strategic development for Bond Wolfe,” he said.
“It will provide the company with the right facilities to continue its growth and consolidate its market leadership. We are rapidly expanding our agency business and felt that this building provides us with the perfect opportunity within which to grow.”
The property was purpose built for the building society in the 1960s, and has been extended and refurbished over the years. It offers 44,263 sq ft of office space across five floors, each with a mixture of open plan and suited offices allowing for a variety of uses.
The deal also includes a substantial car park to the rear of the property with space for 111 designated vehicles.
The building will be rebranded as “Society House” and Bond Wolfe intends to occupy one of the floors for its commercial agency and property investment business.
“We are already in talks with a number of firms about leasing space with us. At such an early stage we are delighted with the level of interest from potential occupiers,” said Mr Mattin.
“We want this to become a real flagship building at the heart of West Bromwich. Using our local knowledge we believe we will deliver Society House as a perfect building for established companies to base themselves at for many years to come.”
The announcement will be welcome news for the town, which is still reeling from the society’s announcement.
Sandwell Borough Council was especially unhappy as it claimed it had offered the society a prime building plot in the town worth £650,000 free of charge if it would stay.
However, the society said the new location at the Waterfront offered it the scope it needed for expansion.
The society has agreed a deal with Richardsons Capital to lease 70,000 sq ft of space at Point North.
