Knight Frank’s Birmingham based Midlands Logistics and Industrial team has successfully let three multi-let units in quick succession on Octagon Business Centre and Granada Trading Estate on behalf of Amanita Limited and IM Properties achieving new headline rents on both estates.
Octagon Business Centre has welcomed two new tenants to the estate, Cygnet Food Group, a Caribbean food seasoning company, who have committed to a 5 year term on Unit 5 (2,146 sq ft), as well as P.C. Boost Ltd, a PC and Gaming technology specialists company, who have also secured a 5 year term on Unit 6 (2,086 sq ft). Both occupiers are great additions to the estate which is now fully occupied. These two transactions have affirmed the new headline rent of £11.00 psf on the estate.
The estate is well positioned within Aston, neighbouring the A38(M) which provides direct access to Junction 6 of the M6 to the north and Birmingham City Centre to the south.
Knight Frank on behalf of Amanita Limited have successfully secured Pegasus Industrial Services Limited on Granada Trading Estate, Oldbury. The Oldbury based engineering specialists have taken 15,802 sq ft of space in Unit 9 in addition to their existing premises of the A4034 on the basis of a new 10-year lease agreement reflecting newly achieved headline rent of £7.00 psf.
The estate benefits from direct access to Junction 2 of the M5 via the A4034 linking with the M6 to the north and the M42 to the south.
Edward Kennerley, Partner at Knight Frank commented: “The completion of these deals in quick succession has demonstrated a clear demand by occupiers for immediately available space within the West Midlands multi-let market. The lack of new development in tandem with the shortage of supply within this sector of the market has caused the continued growth of rental tones across the region.