Advent Capital Investments Ltd secures significant letting of revamped Solihull office

The Property Income Trust for Charities (PITCH), managed by Advent Capital Investments Ltd, has agreed to let the newly renovated 33,000 sq ft Solihull office, T2 Trinity Park, to leading facilities management company Mitie for ten years.

PITCH’s thematic approach, which seeks to ensure its buildings are aligned with occupational demand both now and into the future, grades each asset according to five core themes: change and disruption, climate and environment, communities and clustering, consumers and lifestyle, and connectivity. Trinity Park scores highly against each of these investment themes.

The lease agreement follows a comprehensive refurbishment to create a more sustainable, energy efficient facility and improve the health and wellbeing of occupiers. Modifications include improved disabled access, employee storage and shower facilities, as well as a car park with several electric vehicle charging points.

In addition, Trinity Park is strategically situated at the junction of the M42 motorway and the A45 road that links Birmingham with Coventry, as well as being adjacent to Birmingham International railway station and Birmingham Airport. The new HS2 station, Arden Cross, will also be situated under a mile from the park once complete.

Simon Martindale, fund director of PITCH, says: “Despite a challenging 18 months for the sector, our positive view on the future of offices remains unchanged. There continues to be a fundamental need for high-quality office space to enable companies to create, innovate, collaborate and showcase talent. We have improved the quality of the portfolio through our ongoing refurbishment programme aligned to this new working dynamic.

“Since acquisition in 2016, we have been confident in Trinity Park’s ability to deliver long-term income resilience and capital growth – which we have further strengthened through the recent refurbishment. This letting reaffirms our outlook for the office sector, which remains a vital component of our strategy as the shift towards higher-quality and multi-functional office space become even more apparent.”

 David Rigby, of Cushman & Wakefield, who represented Mitie, says: “T2 Trinity Park provides Grade A office space in a great location close to Mitie’s existing office location. Acquiring the whole building allows Mitie to invest further in the premises to meet their ambitious environmental targets including adding further electric charging points to run their fleet of electric cars.” 

Jonathan Carmalt of JLL, who represented PITCH in the transaction, noted: “We are delighted to secure an occupier of Mitie’s standing in a transaction that clearly demonstrates the resilience of the M42 corridor office market as office occupiers step up the return to work.”