- Colmore Capital has announced two new lettings at Quartz Point Business Park
- Lely and Dodd Group have signed long-term leases for space in excess of 8,500 sq ft
- The Midlands remains a central focus for UK and overseas investors looking to escape the overheated London markets
Birmingham-based regional property investor Colmore Capital has announced a duo of lettings at its Quartz Point Business Park in Solihull, with a further two units under offer.
Lely, a high-tech agriculture robotics business headquartered in the Netherlands, has signed a 10-year lease on a 6,200 sq ft self-contained office unit. Lely has an international network of offices with its Quartz Point location to serve as the HQ for its UK and Ireland operations, supporting to over 100 staff.
Key to Lely’s move was the flexibility of the self-contained office space which could be easily configured to provide a welcoming client-facing area and a distinct back-of-house workspace. It was important that Lely could have its own building and branding to provide a suitable arrival experience for visitors to its new HQ.
Electrical and Mechanical service provider Dodd Group has also signed a 5-year lease on 2,508 sq ft of self-contained office space. With capacity for 25 staff, the offices will be used to service new contracts with nearby local authorities.
Dodd Group is a privately owned family business with an unrivalled local reputation in the building service sector. They were attracted to Quartz Point due to its close proximity to the M42 and wider national road network, ample parking for its whole team and Colmore Capital’s ability to work collaboratively and efficiently to ensure the office was open and operational in line with a key move-in date.
These two deals have helped to cement a new headline rent for the park, which has been driven upwards by c. 50% since its acquisition in 2017. Instrumental to this success has been the targeted investment from Colmore Capital, which has almost doubled the parking provision, materially reduced the service charge, and improved the communal landscaped areas.
Comprising six self-contained two-storey office buildings which can be split into smaller semi-detached units, Quartz Point offers a private and green working environment.
Guy Revell, Investment Associate at Colmore Capital said: “Quartz Point had many characteristics which made for a compelling investment proposition – the data showed under-served demand for the office sizes available at the park.
“Another advantage was our ability to drastically increase parking provision in a market which is predominantly accessed by car. The site hadn’t had the level of hands-on attention we believe is necessary to create a great working environment.
“This pair of lettings is an excellent example of the appeal of quality space in the M42 corridor, with its outstanding transport connections and immediate proximity to the future HS2 station at Arden Cross.”
Occupying an attractive location in the Midlands, Quartz Point Business Park offers self-contained, open plan, Grade A office spaces between 2,508 and 6,180 sq ft. It provides the highest parking ratio of any equivalent office space along the M42 with generous car parking to the front of each building and a new 100 space car park extension.
The Park attracts a broad and diverse mix of organisations wanting to take advantage of its prime Midlands out-of-town office location, with the M6, Birmingham International Station and Birmingham Airport on its doorstep.
Guy continued: “We have a further two units under offer, one to a longstanding customer which is seeking to double its footprint, demonstrating its commitment to the park and the region – and another to a new occupier for Quartz which is acquiring the space to accommodate business growth.
“A key element of our approach is that we see our tenants as our customers – it wouldn’t be a business park without them – and we therefore aspire to deliver high levels of customer service through our interactions with them and the approach of our on-site team and property managers.
“It’s been very rewarding to support the growth of local and national businesses at Quartz Point. With the completion of these deals the park will be fully occupied, a testament to the appeal of the property. We have a single unit coming available this summer which we will refurbish to create bright and modern workspace.”