The epicentre of commercial development along the M42 corridor has shifted - with Solihull losing out to towns north of the M6 intersection.
Around 70 per cent of all commercial development in the last 12 months was centred around Tamworth and Coleshill rather than the traditional centre of Solihull, according to commercial property agents Knight Frank Birmingham.
Simon Quantrill, partner at Knight Frank, believes the shift is thanks to the opening of the northern relief road and the cheaper rents for grade A office space.
And he predicts that the trend is likely to continue. "Tamworth and Coleshill are establishing a strong reputation for high-specification office development and the area is undertaking more speculative development than even Solihull, the traditional epicentre of construction,"
Mr Quantrill tells Business Property Review.
"Its popularity is further reinforced by good rents which, at around #16 per sq ft, undercut rents in Solihull by almost #5."
One example cited by Mr Quantrill is Marston House, the last part of a development jigsaw being assembled by Hinton Properties at Bonehill Road.
Knight Frank, joint letting agent with Calders, says occupiers will be seduced by the prime location, with easy access to the M42, M6, M6 Toll and A58, while Birmingham city centre is just 15 miles away.
The two-storey building - one of five - will comprise 20,000 sq ft of grade A office space with all the modern must-haves - raised floors, air conditioning, suspended ceilings with integral lighting and a prominent reception area.
Rents start from #16 per sq ft and suites range from 2,500 sq ft upwards - and the agents are confident that there will be strong interest.
That confidence is shared by Ian Reynolds, of Hinton Properties, who says: "Marston Park has been an excellent site for Hinton Properties, benefiting from a prime location and ensuring the successful lease of each element of the scheme to a range of high-profile national businesses."
Such is the strength of the development shift that locations such as Ashby de la Zouch further north have also benefited.
Mr Quantrill says: "There has been a great deal of development activity in this area which is set to continue throughout this year."
Knight Frank has recently negotiated two deals in Ashby de la Zouch - 3,075 sq ft and 1,260 sq ft, both let at #12 per sq ft - on behalf of Findel Education.
