'Touchdown' Offices: The New West Midlands Office Trend?
Regus franchisee AB Offices has taken a 10-year lease on 13K SF on two floors of 84 Salop Street, the former Carillion HQ.
“This is a really positive statement for Wolverhampton," Knight Frank Midlands Office Agent Will Higgins said. "We anticipate that there will be a growing requirement for flexible office space for startups and entrepreneurs in the post-COVID-19 era.”
Knight Frank advised on the deal.
The five-storey 84 Salop Street building was constructed in 1977 as the headquarters for the Staffordshire Building Society, and later became the headquarters of Carillion. Gupta Group acquired the building in 2018 and only one floor of the building now remains available to lease.
“Recent investments into the city’s public realm and the development of best-in -class office accommodation along with its excellent transport links will result in Wolverhampton being well placed to recover from the current crisis,” Higgins said.
The working-from-home habits picked up during lockdown are expected to add a new motive to the expansion plans of suburban and out-of-regional-capitals flexible workspace providers.
Operators like Värde Partners-backed BizSpace could provide local touchdown spaces for working-from-home staff who need peace and facilities away from their families or outside small apartments.
BizSpace has long been targeting the West Midlands and now has a total of 105 UK-wide properties, equating to more than 6M SF under ownership.