In one of the largest office lettings in south Birmingham for five years, British Gas subsidiary Transco is to take the 6,038 sq m (65,000 sq ft) Chadwick House on Warwick Road, Solihull.
When complete the deal will see Transco paying a healthy rent for secondhand offices of £172 per sq m (£16 per sq ft) to give it expansion space for its contract portfolio management team.
Transco is taking the assignment of a three year lease from the Inland Revenue, the building’s previous occupier, and is negotiating with owner Universities Superannuation Scheme to extend it.
Transco is planning to move personnel from its offices in Moat Lane, Solihull, and use Chadwick House as expansion space. If the deal completes this week, Transco should take occupation next month after a short fit-out period.
A spokesperson for Transco said that no space would be put on the market at Moat Lane and the company has no outstanding requirements in the region, as Chadwick House will give it room to expand.
Richard Ellis is advising the Inland Revenue. Transco is represented by Grimley. Jones Lang Wootton is advising Universities Superannuation Scheme.
EGi News 13/02/98
