Government signs Brum’s biggest post-lockdown letting
Developers Galliard Homes and Apsley House Capital have secured the Ministry of Housing, Communities and Local Government for 48,787 sq ft of office space in Birmingham.
It is thought to be the biggest office letting agreed in Birmingham and the West Midlands since lockdown eased.
The government department has agreed a 10-year lease at £15.75 per sq ft in a deal worth up to £8m in rental income.
Developers Galliard Homes and Apsley House Capital have secured the Ministry of Housing, Communities and Local Government for 48,787 sq ft of office space in Birmingham.
It is thought to be the biggest office letting agreed in Birmingham and the West Midlands since lockdown eased.
The government department has agreed a 10-year lease at £15.75 per sq ft in a deal worth up to £8m in rental income.
The government has not formally confirmed the end use of the property, but it is believed the space will become a regional hub for the Department for Work and Pensions.
This deal leaves the building, known as B1, with 16,500 sq ft of office space to let. It comprises a total 92,472 sq ft of offices.
The Galliard Apsley Partnership was formed in 2016 with the aim of acquiring brownfield sites in the West Midlands to provide mixed-use schemes.
Chris Duffy, acquisitions and commercial director at Galliard Homes, said: “This is a massive commercial deal for Birmingham and the West Midlands.
“The decision by the Secretary of State for Housing, Communities and Local Government to acquire these premises in B1 underline the importance of Birmingham as the second city in the UK and the capital of the Midlands.”
Lambert Smith Hampton and Avison Young advised the developers on the deal.
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