Birmingham-based Sto-ford Developments has clinched a double triumph - notching up what is thought to be the largest commercial pre-let on the M42 for the past five years while securing the investment sale to M&F Finance (Ireland) for £22 million.
Seen as a rare occur-rence in the commercial marketplace to pre-let and pre-sell a scheme even before it has got out of the ground, Stoford is claiming a further success by gaining a record sales yield for Birmingham's prime out of town office market.
The development, on a three-acre site, situated adjacent to the NEC, Birmingham International Airport and Birmingham International Railway Station is to be the new showcase UK headquarters of Lafarge Cement.
Switching from its current base in Chilton, Oxfordshire, the company will bring over 100 jobs to the area, creating significant inward investment.
Believed to be the largest commercial deal on the M42 since Stoford pre-let 71,000 sq ft to mobile phone maker Sendo Holdings in 2001 Stoford director Dan Gallagher said: "It is a major coup for the company to completely pre-let and pre-sell a site of this nature.
"We worked hard to get in tune with Lafarge's needs and deliver a site which matched their requirements, close to major motorway networks and providing easy access for company executives commuting to and from Paris, the home of La Farge's parent company."
Lynda Hackwell, head of community and economic regeneration for Solihull MBC, said: "This is fantastic news for the borough and demonstrates continued confidence in Solihull as the important business location in the West Midlands."
David Simms, Lafarge Cement's land and planning director, added: "We are delighted that Stoford have managed to secure such a prime site and will now manage the project from start to finish, enabling us to have greater control and ensure the end product really meets to our needs.
"Without doubt, the advantages of this central location and unrivalled access to the communication network were among the decisive factors for us in choosing Solihull as the home for our new HQ."
Work is expected to start early next month.