A Birmingham office building, acquired, refurbished and let to serviced office provider UBCUK by independent commercial property agency KWB, has exceeded its occupancy targets only 18 months after opening.
UBCUK’s Serviced Office Centre at 1310 Solihull Parkway on Birmingham Business Park has exceeded 75% occupancy in only its second year of operation, an achievement which according to KWB Director John Bryce puts it well ahead of company expectations.
He says: “Having the 16,000 sq ft office building more than three quarters occupied by 24 different businesses is an outstanding performance, beating the targets set for occupancy after 18 months, and underscoring the high demand for flexible office space in and around Birmingham.
“More than ever before smaller firms do not want to be tied into long office leases, so look to serviced offices for their accommodation needs. The office centre at Birmingham Business Park is particularly sought after because of its excellent transport links next to the M42, Birmingham Airport and railway station and its proximity to major manufacturers such as Jaguar Land Rover.”
Through KWB Serviced Offices Limited, KWB is a shareholder in UBCUK which presently operates nine serviced office centres across England. Using its office agency and Workplace consultancy, in 2015 KWB acquired and refurbished 1310 Solihull Parkway for a client and agreed a 15 year pre-let let to UBCUK.
Mr Bryce continues: “With demand for flexible offices and managed workspace on the rise, serviced office providers are looking to increase the number of workstations they can offer.
“In London, for the first time in the first six months of 2017, serviced office and co-working companies accounted for the largest share of space leased. This exponential growth is one of the main reasons we formed KWB Serviced Offices to focus the expert consultancy advice we offer to landlords, developers and operators in this sector.
“We can advise landlords on whether a serviced office is right for their property, and how to go about creating their own serviced office centre, or we can introduce clients to serviced office operators to fill part or all of a vacant office building.”
At Birmingham Business Park’s 1310 Solihull Parkway building, UBCUK provides 200 workstations across two floors of serviced office space.