A 10,000 sq ft office building in Burntwood, Cannock, has two new tenants in a complex and speedy deal put together by the Birmingham office of leading real estate company Cushman & Wakefield.
The building – Newlands Court, which is not far from the M6 Toll Road – is owned by local entrepreneur John Dillon, and once housed his engineering business. This was sold to energy giant RWE npower, who, as part of the deal, took over the building.
RWE npower had a lease at Newlands Court until 2017, but moved out in 2015, thus leaving the building empty.
Now, since Christmas, David Rigby, of the Birmingham office of Cushman & Wakefield, has not only found two tenants to occupy the building, but has also secured the surrender of npower’s interest in it.
The new tenants are Chasetown Civil Engineering Ltd, who have taken the ground floor, and City & Guilds, who are occupying the first and second floor.
The former has moved in on a short-term 12-month basis, while it develops new premises for itself in the locality. The other tenant, City & Guilds, is a skills development organisation, and is moving to Newlands Court from Lichfield. The organisation has taken a five-year lease.
David Rigby said: “This is a great result for our client, John Dillon, as it has saved his company a great deal of money by turning an empty building into one that is fully let, in just six months.
“The building may be considered to be off the beaten track, but it shows that even in somewhere like Cannock Chase there is substantial demand for good quality office space at the current time.”
Bradley Faulks of RWE npower, said: “This is a great result for our business and David’s efforts have been pivotal in achieving such a quick and positive outcome for all parties.”