Innovation Centre more than 50% let

Tom Bourton, Andrea Fullard, Mike Murray and Andrew Venables

March 2008

St Modwen has announced that its 45,000 sq ft Innovation Centre at Longbridge Technology Park is now more than 50 per cent let – exceeding initial expectations for the £6 million landmark building.

The building forms part of the £15 million Longbridge Technology Park, developed by the UK’s leading regeneration specialist St Modwen as part of the wider £750 million Longbridge scheme. It presents an innovative solution for start-up and medium-sized businesses by offering office suits ranging from 200 to 2,000 sq ft along with a full range of business support services.

Alongside the neighbouring 31,208 sq ft Two Devon Way building, the development has been designed specifically to attract a nucleus of high technology businesses to the Longbridge area.

St Modwen has reported an exceptional level of interest in the Innovation Centre, with a steady stream of business taking advantage of the facilities on offer since its launch in June 2007.

St Modwen's senior development manager Mike Murray said: "The initial success of the Innovation Centre is an important first step in re-establishing Longbridge as a significant regional centre for business and technology. The building has a great deal going for it and provides a flexible option for small to medium sized businesses looking for a new base, or in some cases their very first premises."

Longbridge Technology Park is the first phase of Longbridge - the largest regeneration project in the West Midlands. More than 400 acres is set to be transformed by St Modwen and Advantage West Midlands to provide a sustainable community with the creation of thousands of new jobs, new homes and a new town centre with an excellent public transport network.

Innovation Centre manager Andrea Fullard said: "The fact we had four tenants lined up and ready to move in on completion - Co-operative Web, Netstore, AccessCentral and MD Aero Services - set the Innovation Centre off to a great start. Since then we have been dealing with continued interest, with the three main factors that seem to be attracting companies being the location, modern facilities and the flexible terms on offer.

"That so many growing businesses have chosen the building as their base also pays testament to the lease terms on offer. Three-year lease contracts are available, breakable after 28-days with no penalties, meaning companies have the flexibility to move into larger premises should their business continue to expand. This flexibility has been key to the Innovation Centre's success.

"Each space at the Innovation Centre has a feel of individuality within the larger community feel of the building, something that is a distinguishing factor to other similar buildings. The fact that occupiers have the freedom to control their own air conditioning and fit-out their space to their own tastes while still having access to the wider facilities on offer has been a strong selling point."

For more information on the space available at either the Innovation Centre, Two Devon Way, or to discuss potential design and build opportunities please contact Andrea Fullard at St Modwen on 0121 222 5555 or Tom Bourton or Andy Venables at GVA Grimley on 0121 236 8236.

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