The UK’s leading regeneration specialist, St. Modwen, has just one Grade A office suite remaining at its landmark Park Point building in Longbridge following a key letting to leading pharmaceutical company, Biotest (UK).
Specialising in innovative haematology and immunology products, the firm is a subsidiary of Biotest AG, a German-based global researcher and provider of plasma protein therapies that employs approximately 2,000 people worldwide.
Biotest (UK) has relocated from its current base in Solihull to take occupation of the 3,797 sq ft office.
Marc Maltas, Managing Director of Biotest (UK), said: “Our products are used in the treatment of life-threatening diseases such as disorders of the immune and coagulation systems as well as critically ill patients or those undergoing organ transplantation. We have operated in the UK for more than 30 years and count NHS Hospital Trusts and various National Blood Services as our key customers. Relocating to these larger, modern premises at Longbridge aligns with our strategic growth plans for the coming years as well as offering us an excellent quality space to host leading healthcare professionals and scientific experts from the UK and overseas.”
Mike Murray, Senior Development Surveyor at St. Modwen, said: “Attracting a high profile company like Biotest (UK) pays testament to the exceptional working environment and town centre location offered by Park Point. Just one 1,433 sq ft Grade A office suite now remains on the first floor and we have received a good level of interest from potential occupiers.”
GVA and Savills acted on behalf of St. Modwen. Andy Venables, Director at GVA, said: “Biotest (UK) was originally looking to relocate to the M42 corridor but was attracted to Longbridge by the quality of accommodation and the growing hub of tech companies here.”
PNF Chartered Surveyors acted on behalf of Biotest (UK). Edward Parkes, of PNF, said: “Longbridge offers Biotest ease of access to both the motorway network and public transport in addition to a wide range of amenities at the town centre.”
More than 3,500 jobs have been created at Longbridge since St. Modwen began the regeneration of the former MG Rover site in 2003. International companies based at the scheme include Philip Cornes, iON Cameras, Atos and Bytesnap. The first phase of the town centre opened in August 2013, comprising an 80,000 sq ft Sainsbury’s, a 75 bedroom Premier Inn, 24 shops, restaurants, 35,000 sq ft of offices and the £2m Austin Park. Work is now underway on the second phase of the town centre, which includes a 150,000 sq ft Marks & Spencer store, and St. Modwen has also secured £8million in government funding for a new infrastructure package that will improve roads and transport links.