Sports management firm buys units close to centre
TWO buildings at The Cloisters in Edgbaston have been sold to a sports management consultancy.
Numbers 8 and 9, which total 3,596 sq ft, have been acquired by Sport Structures which is relocating from its current location in Birmingham’s Jewellery Quarter.
The Cloisters, in George Road, is a courtyard office development comprising 18,342 sq ft of office space across ten, two-storey self-contained units.
The deal with Sports Structures brings the development up to 50 per cent occupancy and was completed by property consultancies Bilfinger GVA and Cushman & Wakefield.
George Jennings, director at Bilfinger GVA, said: “This is a significant achievement, demonstrating the continued appeal for small companies to purchase their business premises.
“Edgbaston is a commercial location with great proximity to the thriving retail and leisure core of Birmingham city centre but at a frac- tion of the cost of office space in the core.
“The Cloisters has attracted occupiers from a really broad range of sectors and industries, from building surveyors and planners to a media company.”
Cameron Thomson, senior surveyor with Cushman & Wakefield, added: “Edgbaston is continuing to benefit from the investment being made by Calthorpe Estates into the rejuvenation of this picturesque part of Birmingham, with many obsolete buildings either being demolished or undergoing refurbishment to ensure they are up to the standards expected by modern occupiers.
“There are far fewer vacant properties than just a couple of years ago and we anticipate the remaining units at The Cloisters filling quickly.”