St Modwen successfully relaunches Lyndon House

Twelve months ago Redman Heenan Properties Ltd, the investment subsidiary of St Modwen Properties PLC, faced a real challenge at its Lyndon House headquarters in Hagley Road, Edgbaston, Birmingham. Alliance & Leicester plc, its principal tenant, had vacated seven floors retaining only one floor as a call centre.

However, with aggressive marketing and a major refurbishment programme, St Modwen has already re-let six of the vacated floors totalling some 2,322 sq m (25,000 sq ft) of space increasing its rent roll by some £210,000 per annum.

Birse Group has been relocated to two of the floors from other parts of the building and has also taken a third floor. Two other floors have been let to Galliford UK and one to Thomson Directories Ltd.

Alan Williams, of St Modwen, said: “It was a major blow to lose Alliance & Leicester when their lease expired after 25 years of occupation by them and their predecessor Girobank. Despite a less than strong office market, we have with the help of Simon Quantrill of Knight Frank let six of the vacated floors.

“As the remaining floor is the top one with panoramic views over the city, it is not expected to be long before it is taken. This will leave only 477 sq m (5,132 sq ft) in smaller suites available in the 6,038 sq m (65,000 sq ft) building. Following these lettings we are now to embark on the major refurbishment of our entrance and reception area, to make the building fully compliant with disabled access legislation and give it a new face for a new century.”

For further information contact Alan Williams on 0121-456-2800 or e-mail: awilliams@stmodwen.co.uk.

Issued by Paul Raymer of Howle Chapman Raymer (0121-236-7771)