Multinational steel and mining company ArcelorMittal has signed a 10-year deal for 7,060 sq ft of Grade A sq ft office space at Friars Gate in Solihull.
The 10-year deal will see the Fortune 500 firm and second largest steel producer in the world, relocate staff from its current premises on Fore Business Park. Its new home, the 7,060 sq ft of recently refurbished Grade A space at Friars Gate, will act as a hub for its UK operations alongside wider sites in Willenhall and Rowley Regis.
ArcelorMittal will join an impressive roster of companies at Friars Gate, the area’s leading multi-let office space, including Caterpillar Finance, Thyssenkrupp, Linnaeus Group and the Bank of Ireland.
Nick Jaye, Asset Manager at Topland Group, said:
“This letting is testament to both the strength of Solihull as a town and the quality of office space available at Friars Gate.
We are delighted to welcome another global brand to our impressive collection of occupiers. Building on the site’s strong connectivity and local amenities and responding to demand for quality space in and around Birmingham, it offers the best of both worlds – an attractive workspace in a prime location.
“With a 10-year deal, ArcelorMittal is also reaffirming its commitment to and confidence in the West Midlands.”
The recently refurbished Friars Gate, occupies a prominent position fronting the A34 Stratford Road, providing direct access to the national motorway network. The site also benefits from its close proximity to Solihull, Birmingham International Airport, and the NEC, as well as a range of amenities including a Costa Coffee drive thru, Tesco Superstore, David Lloyd, Virgin Active and Village Hotel. There is just 9,000 sq ft of space remaining across the 71,500 sq ft destination, available for immediate occupation.
Strategic real estate advisor Avison Young and BNP Paribas acted on the deal.
Adrian Griffith, Principal at Avison Young, added:
“Office activity in Birmingham’s out-of-town market revved back to life in 2021, achieving a 52 per cent uplift in transactions compared to 2020. Highlighted by this deal between Friars Gate and ArcelorMittal, we fully expect the confidence in the market to carry through into 2022.
“Like Topland Group, the market is responding to demand and working hard to provide quality space that helps occupiers to draw their workforce back to the office, in strategic locations like Solihull.”