BAM lets 25,000 sq ft to UTC Aerospace Systems at FORE business park, Solihull
Hemel Hempstead, 9 May 2014 - UTC Aerospace Systems, formerly Goodrich, has taken a new ten year lease comprising 25,652 sq ft within the FORE 1 offices Solihull, the most high profile office development in the M42 corridor. The letting represents the largest transaction for office space in Solihull and the M42 corridor for two years, since the letting of Eagle 3 to Virgin Media in early 2012. It is for the whole of FORE 1, created, designed and built by property and construction company BAM.
KWB commercial property agents, acting on behalf of BAM Properties and working alongside joint agents CBRE, have successfully secured occupiers over the last 12 months for 70% of the FORE office scheme, with further interest expressed in the remaining two floors of FORE 2.
Located prominently at Junction 4 of the M42, adjacent to Blythe Valley Business Park, FORE is one of a very limited number of self-contained options for businesses looking for office space in Solihull, with FORE representing the most energy efficient office space currently available in the region.
UTC Aerospace Systems, which has been established in the area for many years, is one of the world’s largest suppliers of technologically advanced aerospace and defence products, as well as a major supplier to international space programmes.
Prior to the acquisition, which consolidates over 150 staff from three local offices, UTC Aerospace Systems, advised by CBRE, analysed the options available for office space in Solihull and the surrounding area.
UTC Aerospace Systems will use the FORE1 building for a combination of Research and Technology activities, finance services and UK corporate staff.
Gareth Morris, VP & General manager for UTC Aerospace Systems, Motor Drive Systems Centre, said: ‘We are really pleased to be moving to a building that will provide an excellent environment for our employees and our research activities. This new facility will provide a showcase for customer visits and should support future growth.’
Will Ventham, Director at CBRE, said: ‘UTC Aerospace Systems offer an insight into the ever evolving requirements of our clients, adopting new working practices and recognising the need to provide best in class working environments for their employees. The Birmingham and Solihull conurbation provides a strategic location for business and UTC Aerospace Systems had the foresight to secure premises that meet their business needs amidst changing market conditions.’
Martin Hill, BAM’s Development Director, said: ‘BAM’s buildings continue to attract high quality occupiers. The market perceives the added value that we create by virtue of integrating the creation, design, and construction of our offices. It means high quality buildings achieve high quality clients.’
BAM further enhanced the M&E system within FORE to provide an occupational density of 1:8 sq m, which can house 20% more staff than all of its local competing buildings. These enhancements also permit occupiers to secure a 63% cost saving on their utility bills compared with a competing 1990s developed office building.
Mark Robinson, Partner at KWB, commented: ‘We are delighted that such a notable local occupier has chosen this scheme as its local HQ. As we seem to be emerging from a period of corporate austerity, it is pleasing to see occupiers recognising the cost benefits of acquiring spatially and economically efficient office space in Solihull. We have strong interest in the remaining two floors of FORE 2, so we look forward to announcing further good news during the course of this year. Detailed planning consent also exists for the development of a second phase where two further buildings, FORE 3 and 4, will provide 110,000 sq ft of office space in Solihull, and we already have pre-let enquiries to talk to for elements of this.’
Mark Slattery, press and media manager, BAM Construct UK Ltd, (01442) 23 84 15.