A total of 37,509 sq ft has been taken by the government on a 10-year lease at Birmingham Business Park.
It’s the biggest deal at the Park in the last 22 years.
Real estate advisors Avison Young, and Savills acted on behalf of Savills Investment Management to negotiate the deal for the two self-contained Grade A office buildings, one at 22,235 sq ft and the other at 15,274 sq ft.
This latest deal follows a string of government office deals in Birmingham. The Office of the Public Guardian recently signed an agreement for 67,000 sq ft space in the city’s Victoria Square House, while in 2021, it acquired the remainder of B1 in the Jewelery Quarter, where 65,000 sq ft of space is home to the Department for Work and Pensions and Department for Leveling Up, Housing and Communities.
Adrian Griffith, Principal and Head of Birmingham Office Agency at Avison Young said: “This sizable deal at Birmingham Business Park is a real post-Covid success story – being the largest since 2000 – highlighting the strength and resilience of the region’s office market. It demonstrates the confidence in Birmingham’s out-of-town market and once again reaffirms the Government’s commitment to the city and region. ”
“After a strong ending to 2021, Birmingham’s out-of-town market is rallying, and landmark deals like this highlight just how the market is once again improving.
“The fact that we have stand out sites like Birmingham Business Park is helping to draw businesses back to the workplace, and with its scale, quality and track record, provides a compelling offer for government departments.”
Birmingham Business Park is home to 150 businesses including Rolls Royce, IMI, Fujitsu and GKN employing over 7,000 staff members.
Avison Young and Savills acted on behalf of Savills Investment Management, whilst the Government was represented by JLL.