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WATES RELOCATING TO QUINTON BUSINESS PARK

Wates is  relocating from the Edgbaston office sector to Quinton Business Park, Birmingham, which is owned by St Modwen.

The building firm has taken a 10-year lease on 10,000 sq ft in Building  5 next to St Modwen’s new headquarters, at an annual rent of £17.50 per sq ft. Building 5 is the last remaining office in phase two.

Construction work is well advanced on the third phase of offices on the business park which will comprise three pavilion-style buildings – two of 10,000 sq ft and one of 27,000 sq ft.

Derek West of St Modwen, said: “The business park has proved a massive success. The interest we are receiving and the tenants we already have, justify the decision by everyone to undertake the development.

“The success at Quinton demonstrates the quite different requirements of two distinct  offices occupiers. The city centre deservedly attracts occupiers needing proximity to the professional and fianncial services core or a large employment base. Out-of-town parks suit firms where most of the staff need to be out and about the region as part of their daily routine.

“We therefore  have had good interest from a number of firms which are considering relocating out from the city centre area because Quinton Business Park is ideally located for quick access to the motorway while remaining close to the centre of Birmingham. When the low service charge and generous free parking are taken into account, the overall occupation costs are very competitive.”

He added that a planning application for the fourth and final phase – about 80,000 sq ft in three buildings – is due to be submitted shortly.

DTZ acted for St Modwen in the letting. Wates was represented by John Bird Associates.

For further information contact Derek West of St Modwen (0121 222 9400). Issued by Paul Raymer of Howle Chapman Raymer (0121 236 7771).