The UK Curriculum and Accreditation Body has secured a new office in Birmingham.
The not-for-profit has agreed to take 21,500 sq ft across four floors at Abrdn Property Income Trust’s 54 Hayley Road office block. It has agreed a 10-year lease at an initial rent of £429,750 pa.
Completion of the lease is subject to API completing a package of works to the property that are scheduled to finish in July.
It is currently based at Smithfield House in Birmingham.
API deputy fund manager Mark Blyth said the letting had been under negotiation for some time and two further deals for 11,600 sq ft space in the 141,434 sq ft building were currently under offer.
He added: “While we remain in a challenging office occupational market, this letting activity demonstrates not only the strength of our asset management team, but also the quality of the API office portfolio.
“These lettings, along with those achieved last year, mean we have made significant progress in realising the income potential from our vacancies, and are close to achieving our target vacancy level of 5%”
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