Insurance brokers KGJ Insurance Group has acquired Three Charter Court at Wolverhampton Business Park, marking significant expansion and the first deal on this second phase of offices at the business park for developer Broadlands (Wolverhampton), a joint venture partnership between B&R Properties and Peveril Securities.
KGJ has purchased the freehold of Three Charter Court, a 9,666 sq ft two storey building.
The insurance brokers currently occupies 3,270 sq ft of leased space on the first floor at Venture Court, phase one of the business park and will vacate the premises to occupy its new headquarters in early July 2005. Around 60 employees will be located on site.
Charter Court, which was completed ahead of schedule in May, provides a total of 32,482 sq ft of office space in three self contained buildings, two of which remain available on a freehold or leasehold basis.
The office buildings of 12,301 sq ft and 10,515 sq ft have been built to a high specification, including comfort cooling and raised access floors.
Jonathan Rogers, director of joint venture partner B&R Properties, said: ?Securing the sale of one of the buildings at Charter Court just a month after completion is an important step forward for the park.
?It is even more satisfying that KGJ has already experienced and recognised the benefits that the park offers the modern day business and the wealth of opportunity that exists for companies to expand on the site.
?The park is home to a diverse range of companies and has become a thriving and successful business location.
?I believe that key to the success of the park is the provision of high specification office space that modern businesses require combined with an easily accessible location and the availability of a large labour pool.?
KGJ director Richard Cox added: ?Following on from our initial investment at Wolverhampton Business Park and subsequent successful business growth, we were always aware that we may be looking to make a further commitment to the site at some point in the future. The fact that rare freehold opportunities were made available at the Park stepped this process up significantly.
?We are delighted with this location and the amenities that are available not only for visiting clients but for our staff too. We want to provide them with a quality work environment both internally and externally and Charter Court is the ideal location.?