Business is booming in West Bromwich according to property agents Bond Wolfe who have just negotiated one of the largest single office lettings in Sandwell in recent years.
Sandwell Inspires Partnership Services (SIPS) has taken 21,895 sq ft at Guardian House in West Bromwich.
Founded in 2012, SIPS aims to improve outcomes for children and young people through the provision of high quality school support and school improvement services.
The deal follows the collapse of former tenants Challinors Solicitors into administration in August this year.
SIPS has taken the ground floor, part of the first floor and the second and fourth floors of Guardian House.
Bond Wolfe managing partner James Mattin said the quick reletting of this substantial space demonstrated the current strong demand for office space against a limited supply locally in Sandwell.
“Throughout the recession, rent levels and occupancy in West Bromwich have remained steady.
“Combined with an improving economy and the resurgence of West Bromwich through the Tesco-led New Square development, the new Sandwell College and the Eastern gateway project, we have seen a significant increase in the number of active requirements in the market.”
Bond Wolfe’s agency department has seen year-on-year growth and 2013 has proved to be another record year for fee income.
This growth was a major factor in Bond Wolfe’s decision to acquire the West Bromwich Building Society headquarters earlier in the year.
Bond Wolfe already has a number of notable local properties within its portfolio including its own current headquarters at West Plaza, let to Premier Travel Inn , along with Landchard House, Victoria House and several others in the town centre totalling over 300,000 sq ft.
The firm also recently acquired the former Allied Carpets building on West Bromwich High Street on behalf of clients and has already let some of the newly-created units with others under offer.
James Mattin said: “The acquisition of the former West Brom HQ building and the SIPS deal in Guardian House further demonstrates our commitment to West Bromwich and our belief in the strength of commercial property in the region.
“This is part of a long term strategy to invest in the Black Country as we believe the outlook here is very good and the letting to SIPS is further evidence of that.”
Bond Wolfe acted for Guardian House landlords Real Estate Investors plc, while Helen Kendrick at BSV Associates acted for SIPS. Law firm Freeth Cartwright advised REI while Higgs & Sons acted for SIPS.