Regents Court, The Crescent, Birmingham Business Park, Solihull, West Midlands
Vector GB Ltd an international automotive software company appointed us to provide valuation & acquistion advice on four 2 storey campus style office buildings on Birmingham Business Park close to Birmingham International Airport.
The offices known as 2450, 2460, 2470 / 2475 & 2480 Regents Court were owned by an off shore investment company and ranged in size between about 5,000 sq ft to 8,750 sq ft. The total holding extending to some 22,000 sq ft on a site of circa 2 acres.
2480 Regents Court which extends to some 8,750 sq ft was vacant and had been recently extensively refurbished. Vector proposed to utilise that themselves as part of their expansion from a smaller office suite on the park. The remaining office buildings were let to various tenants including Daikin Air Conditioning, Team Relocations & Lanes Plc and thus provide an income producing investment.
Terms were agreed on an “off market” basis to acquire the buildings. Building & Mechanical & Electrical Surveys were undertaken as part of the due diligence process.
Advice is being provided on forthcoming rent reviews and lease renewals with the existing tenants and ad hoc property management input.
