Leading property adviser GVA has completed a letting at 1 Kings Court in Worcester to Canopius, a global speciality reinsurance company.
The letting, which comprises 10,500 sq ft and represents the whole of the first floor, has been secured on a ten-year lease. The completion of this deal will see wholly owned subsidiary, K Drewe Insurance Brokers, relocate from their current location in Bewdley.
A modern, three-storey headquarters-style office building in a landscaped environment, 1 Kings Court reflects some of the best commercial accommodation available in Worcester, having recently undergone a comprehensive refurbishment to Grade A standard.
The deal with Canopius follows hot on the heels of lettings to Siemens Plc and Halls Midlands LLP, underscoring the desirability of the building and leaving just one suite on the ground floor unoccupied.
Andrew Venables, Director in GVA’s Offices team, said: “The completion of this deal reflects the outstanding quality of space available at 1 Kings Court, with only one suite at 2,531 sq ft still available after the recent lettings to Siemens Plc and Halls Midlands LLP.
“The quality of accommodation, ease of access to both the motorway network and public transport and the array of local amenities located under two miles away in Worcester city centre, has seen 1 Kings Court prove to be highly desirable for local commercial occupiers. Recent interest in the accommodation is a positive reflection of a tangible improvement in local market sentiment and initial interest in the remaining suite is encouraging.”
Canopius is the global speciality lines platform of Sompo Japan Nipponkoa Holdings Inc, an A+ rated company with $90billion total assets and one of the top three Japanese insurers. It has offices in the UK, Ireland, Switzerland, Bermuda, US and Singapore.
Shane Duffy, Head of Premises at Canopius, said: “After outgrowing our previous accommodation in Bewdley, we are thrilled to be moving to a high quality building which better meets our commercial needs. We look forward to moving in to our new premises at 1 King Court during the first quarter of 2015.”
Located just off the A4440, 1 Kings Court’s prominent and highly visible location is further complemented by the area’s outstanding connection to the wider national motorway network, with Junctions 6 and 7 of the M5 each just under two miles away.
GVA acted on behalf of landlord IM Properties in the completion of this deal, with Canopius represented by Savills.