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ST. MODWEN REPORTS SURGE IN LETTINGS AT THE INNOVATION CENTRE, LONGBRIDGE

The UK’s leading regeneration specialist, St. Modwen has announced a surge in lettings at its £6 million Innovation Centre at Longbridge Technology Park – part of the ongoing £1 billion regeneration programme.

Bordered by the A38 Bristol Road South and Longbridge Lane, the 45,000 sq ft Innovation Centre is a milestone project within the West Midlands’ Central Technology Belt. It has been designed specifically as a hub for small to medium-sized technology-focused businesses; providing an environment where these companies can share their expertise and in turn, receive support to encourage their ongoing business development.

Bucking the trend seen elsewhere in the commercial property marketplace, 4,567 sq ft has been let to 11 new occupiers at the Innovation Centre over the last two months. As a result, the Innovation Centre is now almost fully let, with just 10 per cent of the office space remaining and there are currently more than 40 companies based at the building employing around 200 people.

Andrea Fullard, Innovation Centre manager, said: “The summer months are typically quiet in terms of deal activity; however from the end of July through to early September we have experienced a high level of enquiries at the Innovation Centre and many of these have resulted in successful lettings. This strong recent performance has been due to several factors; feedback suggests that the location of the Innovation Centre is a major plus, with easy access to the Midlands motorway network and Birmingham city centre, together with excellent public transport links including the adjacent Longbridge train station.

“In the current economic climate, occupiers are able to get more office space for their money, and yet there is no need to compromise on the specification, standard of facilities and level of service. Being part of an established business community and the credibility of the St Modwen brand has also given confidence to the increasing group of risk-adverse occupiers concerned about making a long term commitment to office space let or managed by independent landlords.”

The three-strong team at Zybert Computing, which provides dedicated IT security and continuity solutions for small businesses, has recently relocated from Edgbaston to a 581 sq ft fully-serviced office at the Innovation Centre. Director, Richard Zybert said: “Our previous landlord went out of business and prompted our search for a new office location. We selected the Innovation Centre as it suits the profile of our company perfectly – we are a high-tech, innovative company and wanted to be part of a like-minded business community.

“The Innovation Centre provides a thriving and supportive environment for Zybert Computing. As a small business, we will be utilising the range of services available such as the manned reception and access to meeting and conference facilities; and being based at Longbridge Technology Park, we are hopeful our growth and expansion will continue to be accommodated.”

The Innovation Centre can still offer office suites ranging from 200 to 2,000 sq ft. Available on a furnished or unfurnished basis, occupiers can tailor space to suit their specific needs while being part of a wider business community. A full range of business support services are available to all tenants, from state of the art telecommunications to a dedicated conference centre. Flexible lease terms have been key in attracting businesses to the Innovation Centre, allowing companies to organically expand their space in line with business growth without incurring penalties.

The Innovative Centre forms part of the £15 million Longbridge Technology Park which together with the neighbouring 31,208 sq ft Two Devon Way building has been designed specifically to attract a nucleus of high technology businesses to the Longbridge area. St. Modwen is rolling out a series of these Innovation Centres as part of its national regeneration programme and has already opened three – at Cranfield, Blackburn – which is now 100% let and at Longbridge.

Developed by the UK’s leading regeneration specialist, St Modwen, the Technology Park is part of the wider £1 billion Longbridge scheme. More than 400 acres is set to be transformed by St Modwen and Advantage West Midlands to provide a sustainable community with the creation of thousands of new jobs, new homes and a new town centre with an excellent public transport network.