Lely, a high-tech agriculture robotics business headquartered in the Netherlands, has signed a 10-year lease on a 6,200 sq ft self-contained office unit. Lely has an international network of offices with its Quartz Point location to serve as the HQ for its UK and Ireland operations, supporting to over 100 staff.
Electrical and Mechanical service providers Dodd Group has also signed a 5-year lease on 2,508 sq ft of self-contained office space. With capacity for 25 staff, the offices will be used to service new contracts with nearby local authorities.
Dodd Group is a privately owned family business in the building service sector.
These two deals have helped to cement a new headline rent for the park, which has been driven upwards by around 50 per cent since acquisition in 2017. Instrumental to this success was targeted investment from Colmore Capital, which has almost doubled the parking provision, materially reduced the service charge and improved the communal landscaped areas.
Comprising six self-contained two-storey office buildings which can be split into smaller semi-detached units, Quartz Point offers a private and green working environment with access to the motorway network within a couple of minutes’ drive.
Guy Revell, Investment Associate at Colmore Capital said: “Quartz Point had many characteristics which made for a compelling investment proposition – the data showed under-served demand for the office sizes available at the park, the ability to drastically increase parking provision in a market which is predominantly accessed by car and the site hadn’t had the level of hands-on attention we believe is necessary to create a great working environment.
“This pair of lettings is an excellent example of the appeal of quality space in the M42 corridor, with its outstanding transport connections and immediate proximity to the future HS2 station at Arden Cross.”
“It’s been very rewarding to support the growth of local and national businesses at Quartz Point. With the completion of these deals the park will be fully occupied, a testament to the appeal of the property. We have a single unit coming available this summer which we will refurbish to create bright and modern workspace.”