A Birmingham building contractor is to move from its Nechells home to new premises at a city business park.
E Manton has taken 5,457 sq ft at 2440 Regents Court in Birmingham Business Park and is due to relocate in March, in a move prompted by the expiry of a 25-year lease on its existing premises.
The company has bought the freehold of Regents Court, a standalone building in a wider office courtyard scheme owned by a BBC pension fund and asset managed by Orchard Street Investment Management.
Manton employs more than 60 people and its administrative headquarters will move to Regents Court.
Edward McMurray, Manton managing director, said: “Our decision to purchase freehold offices rather than take out a new lease is a reflection of our confidence in the future and the strength of our business, with the acquisition being funded without recourse to external finance.
“With clients across the Midlands, this new base is ideally located for easy access to the projects we are working on or have in our pipeline.
“Our staff are looking forward to moving to the new landscaped setting and were swayed by the 30 parking spaces, which is a generous provision in comparison to many of the offices on the market.”
Manton has recently been appointed to a £600,000 extension and refurbishment project at Light Hall School in Solihull, and two refurbishment projects worth a combined £6 million at Sandwell Hospital and the Royal Orthopaedic Hospital.
Richard Fletcher-Brewer of GBR Phoenix Beard advised the vendors at BBP.
“Birmingham Business Park and the surrounding M42 corridor achieved one of the best take up figures in years with over 420,000 sq ft in 2012 and this is set to continue with a buoyant level of occupier activity,” he said.
“The park has always been a front runner for companies looking for a campus-style setting and of course the transport infrastructure is unrivalled by other locations.
“Regents Court is fairly unique in offering office facilities on either a freehold or leasehold basis. For companies with a strong cash flow, a freehold option can be a really attractive proposition as they represent a long-term corporate investment.”
Following this latest take-up, 4,804 sq ft are now remaining at 2430 Regents Court, either on a leasehold or freehold basis.
Kone Corporation and Cofely have recently taken space at the development.