MEPC and Richardson Developments have confirmed that St Chads’ Court, their 3,530 sq m (38,000 sq ft) office development in Birmingham, has been let to the Health Department, as exclusively revealed by EGi in February.
A 15 year lease has been signed on a stepped rental, starting at £108 per sq m (£10 per sq ft) for the first three years and rising to £118 per sq m (£11 per sq ft) and £129 per sq m (£12 per sq ft) in years four and five.
The developer has made a fitting-out contribution and there is no rent-free period.Birmingham Health Authority will occupy the building.
Lambert Smith Hampton and Grimley are letting agents. The District Valuer represented the Secretary of State for Health.
EGi News 14/04/97
