Oval Insurance Broking Limited (‘Oval’) has taken 7,422 sq ft of office space, over two floors in a 10 year lease at Newater House, Newhall Street, Birmingham and 56 staff will relocate to the offices in April 2013. The Oval Group is a UK risk, insurance broking, healthcare and financial services advisory group with 25 offices throughout the UK.
Landlords, Newater Investments Limited, who were advised by GBR Phoenix Beard, have agreed a refurbishment contract for the second and third floors which will be ready for occupation by the end of April.
Rob Blyth, property director for Newater Investments Limited said:
“Oval is a very welcome addition to Newater House and with this part of Birmingham becoming a hub for insurance brokers, the team will be in good company. Newater’s location is a real draw for financial and professional services firms, which recognise the need to be centrally located in this prestigious part of the city. Our refurbishment plans have been very positively received and we recognise the importance of continual improvements here.”
Only one floor of 3,711 sq ft of office space is now remaining, together with two smaller suites on other floors. GBR Phoenix Beard are joint letting agents for Newater House with DTZ. Other tenants at Newater House include ASC Recruitment, Benussi & Co Solicitors and City Press, with Purnells Bistro occupying the ground floor. GBR Phoenix Beard are also managing agents at Newater House.