Harris Lamb has reported a positive demand for office developments in the Midlands following the sale of two sites for renovation.
The business has overseen the sale of Neville House, a prestigious 20,000 sq ft office building in Edgbaston, to Fast Item Limited and of Hestia House in Great Barr to social enterprise Midlands Together.
Fast Item Limited intends to completely refurbish the Hagley Road site and convert it into serviced offices, while Midlands Together used permitted development rights to purchase Hestia House on Old Walsall Road, and now plans to convert the building into apartments.
Thomas Morley of Harris Lamb’s Agency department, said: “There has been a definite surge in interest in office buildings in the region. The Neville House site received a great deal of interest due to its excellent location on the Calthorpe Estate in the heart of Edgbaston’s business district.
“That interest is something that Fast Item Limited will capitalise upon following the implantation of its plans to create serviced offices.
“Hestia House, meanwhile, was purchased by social enterprise Midlands Together CIC as part of the organisation’s commitment to create jobs. The building will be converted into 23 studio apartments, creating ten full-time job opportunities,” he said.
The changes to the permitted development rights in turn allowed the organisation to gain consent for change of use without a full planning application, which can be time-consuming and expensive, which has seen demand for freehold offices in the region swell.