Strength of M42 office market drives deal 10% above asking price

THE strength of the office market around the M42 helped drive the price of a 12,000 sq ft building at Solihull Business Park more than 10% above the asking price.

Remus II, which is let to a subsidiary of Barratt Developments until 2022, has been bought for £2.575m.

The Worshipful Company of Dyers, one of the Livery Companies of the City of London, has acquired it from a syndicate of private vendors.

Ben Wisher, an associate in the capital markets team at Knight Frank, who advised on the sale, said: “The M42 office market enjoyed record take-up in 2015, hence interest in this freehold product, let to a good tenant on a long lease, was extremely keen.”

Taylor Wilcox advised the purchaser.

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