Oval judges Newater House move to be low risk

OVAL Insurance Broking has taken 7,422 sq ft of office space, over two floors in a ten year lease at Newater House in Newhall Street, Birmingham.

Some 56 staff will relocate to the offices in April 2013. 

The Oval Group is a risk, insurance broking, healthcare and financial services advisory group with 25 offices throughout the UK.

Landlord Newater Investments, who were advised by GBR Phoenix Beard, has agreed a refurbishment contract for the second and third floors which will be ready for occupation by the end of April.

Rob Blyth, property director for Newater Investments, said: “Oval is a very welcome addition to Newater House and with this part of Birmingham becoming a hub for insurance brokers, the team will be in good company.

“Newater’s location is a real draw for financial and professional services firms, which recognise the need to be centrally located in this prestigious part of the city. 

“Our refurbishment plans have been very positively received and we recognise the importance of continual improvements here.”

GBR Phoenix Beard is joint letting agent for Newater House with DTZ.  

Other tenants at Newater House include ASC Recruitment, Benussi & Co Solicitors and Citypress, with Purnells Bistro occupying the ground floor.