Tenant demand leads to Blenheim Court being fully let in Solihull
Clearbell Property Partners II LP (Clearbell), a fund managed by Clearbell Capital LLP, announces that a letting of 2,000 sq ft of office space to Cadent Gas at Blenheim Court in Solihull. Blenheim Court is now fully let.
Blenheim Court is a 150,000 sq ft office asset, comprising two Grade A office buildings. The site is located at the heart of Solihull town centre and has good transport links close by, including Solihull train station, the M42 and Birmingham airport.
The buildings have undergone significant refurbishment in recent years. The site has recently had new air conditioning system and lifts installed, as well as improvements to the external landscaped areas. In addition, the cladding on the outside of the building has been upgraded, as have the internal bathrooms.
Clearbell acquired the asset in 2016, with plans to reposition the asset through renovations to the common areas and let the vacant space.
Dominic Moore, Head of ESG and Asset Management at Clearbell Capital, said:
“Solihull continues to be a popular base for UK businesses, with demand for Grade A office space in the city outstripping supply. With its proximity to Birmingham and easy transport links to London, we expect that it will continue to attract commercial tenants.
This demand has seen Blenheim Court let up quickly, providing stable income. The void rates in Solihull are extremely low at just 1.6% and we anticipate that this trend will remain, especially given the newfound political certainty in the UK.”
Cadent Gas is the UK’s biggest gas distribution network, transporting gas to 11 million homes and business across England.
Clearbell was advised by Savills. Cadent Gas was advised by Avison Young.