Homes firm in major premises expansion - commercial mortgages

05 June 2008

In news which may interest those seeking commercial mortgages, a housing development firm in Birmingham has provided the landlords Segro with its biggest letting deal at its Kings Norton Business Centre in two years.

Wates Living Space, which is working in partnership with the city council to deliver its Decent Homes Programme, has taken up a five-year lease on 39,869 sq ft of office and warehouse space at the site, the Birmingham Post reports.

Business unite director (midlands) for Wates, Phil Sperring, said the location was ideal for the firm''s projects in the south of the city, adding: "The size of the warehouse and office facility was also a perfect fit with our requirements so we are delighted to be adding this new base to our Midlands operation."

The company is one of three with contracts to enhance the 68,000 council homes owned by Birmingham City Council.

Another firm which has just acquired new property is Kelly & Co Solicitors, which has acquired two new offices in the centre of Leeds through the offices of letting agency Ryden for £3.757 million, reports Property Executive.