11 May 2015

Significant Birmingham letting featured in February's Estates Gazette

Forsters has advised Canmoor, in respect of the letting of 27,000 sq. ft at Birmingham Business Park to the WM Housing Group, one of the largest social housing businesses in the West Midlands.

WM Housing has taken a sixteen year lease of Building 4040 Lakeside at an annual rent of £530,000 (£19.50 per sq. ft). The office building forms part of a high-quality, mixed-use business park environment which is home to over 100 occupiers employing over 5,500 people and is situated just two miles from Birmingham International Airport.

The deal featured in the February edition of Estate Gazette as one of the most significant deals of January 2015 with Mark Robinson of KWB commenting that "this letting represents a complete turnaround in the fortunes of Birmingham Business Park and, more widely, a return in popularity of the out-of-town office market. With take-up in the M42 office market reaching its highest level for eight years and with the park securing 34% of all transactions, WM Housing is not alone in its decision-making."

Andrew Crabbie advised Canmoor, assisted by Hannah Kramer and Anthony Goodmaker.

 

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