Major owner of Birmingham Business Park – BlackRock, has delivered the latest phase of a £6 million rolling refurbishment programme, with the unveiling of a new 25,000 sq ft Grade A office building.
BlackRock purchased a substantial holding on Birmingham Business Park near junction 6 of the M42 in 2015, with Canmoor retained as an asset management partner.
Availability on the Park has reduced significantly over the past two years resulting in the lowest vacancy rate in a decade. Following completion of the recent refurbishment programme, space is available to let in buildings ranging from 1,500 sq ft to 25,500 sq ft.
Rolls-Royce has completed a 300,000 sq ft research and development facility for its Controls and Data Services on the Park, further establishing the location, joining other corporate occupiers including EE, Fujitsu, IMI and Severn Trent. There are already over 7,000 people working on the park and it is anticipated Rolls-Royce will prove to be a catalyst to attract similar businesses. This is already evident with Changan Automotive acquiring 80,000 sq ft in 2015.
Joint letting agents on Birmingham Business Park, Mark Robinson from KWB, Jonathan Carmalt from JLL, and Adrian Griffith from Bilfinger GVA believe the Park’s ongoing success is also down to the creation of a strong community feel.
Griffith’s said: “BlackRock and Canmoor have focused on supporting and nurturing occupiers, introducing initiatives aimed at both employers and employees to increase interaction and engagement.
“For an office park to succeed, the owners have to do more than simply provide quality space.
“They have introduced several community events recently, including an Enterprise Day, a Sustainability Week and a visit from HS2 to talk about the impact the new hub will have on the area. Foodie Fridays have also been gaining considerable momentum. This all helps to enhance the community feel and such events do make a marked difference to retaining major occupiers.”