Leading property advisers Bilfinger GVA working jointly with Cushman & Wakefield have secured the sale of two buildings at The Cloisters in Edgbaston, bringing the scheme up to 50% occupancy.
Numbers 8 and 9, totalling 3,596 sq ft have been acquired by sports management consultancy, Sport Structures, which is relocating from its current location in the city’s Jewellery Quarter.
Situated on George Road in Birmingham’s leafy suburb of Edgbaston, The Cloisters is a courtyard office development comprising 18,342 sq ft of office space across 10 two-storey self-contained units.
With suites from 1,761 sq ft – ideal for companies with up to 25 staff – all of the units at The Cloisters are available to purchase, from as little as £200,000 per unit.
Bilfinger GVA is joint agent on the scheme with Cushman & Wakefield.
George Jennings, Director at Bilfinger GVA, said: “The sale of 8 and 9 The Cloisters to Sports Structures leaves four units remaining at the site, two of which we have serious interest in. This is a significant achievement, demonstrating the continued appeal for small companies to purchase their business premises. Edgbaston is a commercial location with great proximity to the thriving retail and leisure core of Birmingham city centre but at a fraction of the cost of office space in the core.
“The Cloisters has attracted occupiers from a really broad range of sectors and industries, from building surveyors and planners to a media company. This underlines the flexibility and quality of the space on offer, as well as the idyllic Edgbaston setting and we’ve now got limited units remaining.”
Cameron Thomson of Cushman & Wakefield, added: “Edgbaston is continuing to benefit from the investment being made by Calthorpe Estates into the rejuvenation of this this picturesque part of Birmingham, with many obsolete buildings either being demolished or undergoing refurbishment to ensure that they are up to the standards expected by modern occupiers. There are far fewer vacant properties than just a couple of years ago and we anticipate the remaining units at The Cloisters filling quickly.”
The Cloisters is just a mile from Birmingham city centre and a short walk to Five Ways train station, with a private car park for use by tenants.