IM Properties concludes new Blythe Valley let

INDEPENDENT leasing, fleet management and vehicle outsourcing business, Zenith, has signed a new 10-year lease at offices on Blythe Valley Park.

IM Properties has secured the deal for its One Central Boulevard building, which is currently undergoing a £5m refurbishment.

The upgrade will provide 113,483 sq ft of grade A offices, which is the largest available floorplate along the busy M42 corridor.

Zenith is taking a total of 20,635 sq ft, extending its existing space by 5,500 sq ft. The move follows a strategic overhaul of its UK operations – the firm also has operations in Berkshire and Leeds.

Tim Buchan, Zenith’s chief executive said Blythe Valley’s connectivity was a key factor in its decision to expand its presence at the business park, and the decision completed a strategy to establish the business at key locations in the north, south and Midlands.
 
The facelift to the office building is being completed by Overbury and will see the creation of improved communal facilities including break-out areas and a new café.

Rob Hemus, asset manager at IM Properties said: “Blythe forms a significant part of IMP’s portfolio in the Midlands and as a local property company we all take a great deal of pride in the development of the business park and its success.

“With some two million square foot already planned and a further 44 acres yet to be developed, it offers tremendous long-term opportunities. It’s essential we create a unique identity that will appeal to a broad range of occupiers.”
 
Will Ventham, director at CBRE said: “Securing a firm like Zenith for Blythe Valley Park is testament to IM Properties commitment and investment into the park. Blythe Valley Park is widely recognised as the premier business park address in the Midlands and exciting times lie ahead.”
 
IM Properties, based in Coleshill, is one of the largest privately-owned property groups in the UK, with an investment and development portfolio of circa £900m across the UK, Europe and US.