Business
Positive Lettings Update
Positive Lettings Update.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n \n \n 13 December 2022\n \n \n REGIONAL REIT Limited\n \n \n (\"Regional REIT\", the \"Group\" or the \"Company\")\n \n \n \n Positive Letting Update\n \n \n \n \n £0.8m Lease Secured for Birmingham Office\n \n \n \n \n \n \n \n \n Regional REIT Limited (LSE: RGL), the regional office specialist, is pleased to announce it has completed a new lease of 44,245 sq. ft. of previously vacant Grade A office space to Global Banking School (\"GBS\") at Norfolk House, Birmingham. The annual rent amounts to £840,991 (£19.01/ sq. ft.), with a 15 year lease including an option to break after 10 years.\n \n \n \n \n \n GBS is a growing private higher education provider offering a range of sector relevant courses across eight campuses currently, including London, Manchester, Birmingham, and Leeds.\n \n \n \n \n \n Norfolk House comprises of 115,780 sq. ft. (EPC C) of which 89,681 sq. ft. is office and the balance is retail space. The prominent office building underwent a substantial internal refurbishment programme in 2017-2018, providing quality accommodation over six floors. It benefits from both excellent transport links and amenities, with Birmingham New Street train station in close proximity and situated nearby to the Bullring & Grand Central shopping centre.\n \n \n \n \n \n \n Stephen Inglis, CEO of London & Scottish Property Investment Management, Asset Manager commented:\n \n \n \n \n \n \n \n \n \n \"We are delighted to have secured this large letting to Global Banking School at Norfolk House, Smallbrook Queensway. GBS was attracted to the high-standard refurbished property due to its ideal location, adjacent to Birmingham New Street railway station, and it being one of the few properties in Birmingham offering flexible floor plates in excess of 10,000 sq. ft..\n \n \n \n \n \n \n \n \n \n We welcome GBS to Norfolk House and look forward to working with them in the coming years.\"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n - ENDS -\n \n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n \n \n \n \n \n Regional REIT Limited\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Press enquiries through Buchanan\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toscafund Asset Management\n \n \n \n \n \n Tel: +44 (0) 20 7845 6100\n \n \n \...