Bilfinger GVA delivers lease extension for logistics firm

PROPERTY advisor Bilfinger GVA has secured a five-year lease extension for international logistics company, PGS Global, at its Birmingham base.

PGS occupies 70,000 sq ft of space at the Mackadown Lane business park in Kitts Green. Bilfinger GVA acted as asset manager for the deal.

Bilfinger GVA was appointed on Mackadown Lane in 2015 to undertake a strategic review of the 150,000 sq ft industrial estate.

Chris Davies, Bilfinger GVA said: “As part of our role, we are undertaking an ongoing asset review, aligning the occupational profile of the estate with the client’s investment objectives and have successfully mitigated void costs while increasing occupancy rates.
 
“Securing an occupier such as PGS Global certainly enhances the credentials of the property and is reflective of its strategic location.  

“We now have terms out on the remaining 30,000 sq ft of accommodation and hope to have the estate fully let within the next month and will look to continue to provide positive results through our asset management role.”