Birmingham and Solihull-based independent commercial property agency KWB has sold a rare self-contained office suite in an apartment block in Solihull town centre to a financial planning firm.
Acting on behalf of a private developer, KWB’s Office Agency team sold the 1,862 sq ft office suite on the ground floor of The Exchange, Poplar Road, Solihull, B91 3AB, to the un-named financial planners on a long leasehold (999 years), for an un-disclosed price.
Located in the centre of Solihull, close to Touchwood Shopping Centre and three minutes’ walk from Solihull Railway, The Exchange is a newly converted apartment block with a ground floor office suite.
“It’s rare to find office accommodation for sale in Solihull town centre, so it’s no wonder that the opportunity to acquire the office suite at The Exchange was snapped up,” says Malcolm Jones, Head of Office Agency at KWB.
“It’s even more rare that such accommodation should be located in a building where the upper floors have been converted to residential, but the success at The Exchange shows the possibilities and opportunities to other developers, presently considering residential conversions, of retaining the ground floor as office accommodation.
“There are plans in place to convert up to 200,000 sq ft of office space in Solihull Town Centre to residential accommodation, but with office space in short supply, with a vacancy rate of only 3%, perhaps a mixed use approach would be more profitable?” questions Mr Jones.