GVA Grimley has replaced Drivers Jonas as adviser to chemical group Albright & Wilson in its search for a new UK headquarters in the West Midlands.
Following a recent pitch, GVA Grimley has been appointed to search for up to 2,787 sq m (30,000 sq ft) of offices in the M5/M42 corridor which A&W hopes to secure within the next six months.
Speculation has surrounded the future of A&W’s Birmingham HQ for the past two years as the company has been subject to takeover talks. However, according to Ian Stringer, partner in GVA Grimley’s Birmingham office, the search is now active and A&W will look to dispose of its 6,967 sq m (75,000 sq ft building at 210-222 Hagley Road.
He said: “Albright & Wilson would like to be in a modern, business park-style building, self-contained, over, say, two floors and, hopefully, for occupation as soon as possible.”
The freehold of 210-222 Hagley Road, which A&W owns, is to be brought to the market shortly. Stringer added that, although the company would like to sell, it would consider a leasing deal. He also said it would be suitable for alternative uses, such as a hotel operation.
Edwin Hill and GVA Grimley are jointly advising A&W on the disposal of Hagley Road.
EGi News 28/05/99
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