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Property consultancy, Fisher German, has acted on behalf of ISS UK in the acquisition of alternative office space in the Midlands, to meet its growing operational needs.
The transaction, involving the surrender and grant of a new lease with landlord BlackRock UK Property Fund (BUKPF), has led to ISS signing a new 10-year lease on 8,782 sq ft of newly refurbished office space at 3160 Park Square at Birmingham Business Park in Solihull.
The team did not have far to travel from their previous home which was a 3,500 sq ft site at The Crescent – also within Birmingham Business Park, but with limited expansion potential.
ISS required a larger, high-quality workspace after winning a significant new contract, and Fisher German was appointed to advise on the strategy to relocate whilst mitigating the financial impact of their existing lease obligations through until 2032.
Elena Kritikos, of ISS UK, said: “Birmingham has been a strategic location for ISS for over a decade. We are thrilled to be expanding our office space following a successful relocation and refurbishment, with the new office opening on October 1.”
Fisher German worked closely with both ISS and the landlord to avoid double overheads and maintain the operational continuity to ensure a timely delivery of the contract win.
David Laws, Partner and Head of the Regional Commercial Transactional Team at Fisher German, said BlackRock UK Property Fund, the landlord of both buildings, had supported the relocation by agreeing to surrender the existing lease at The Crescent in exchange for the new long-term commitment at Park Square.
Laws said: “We were delighted to support ISS through what was a pivotal moment in their regional growth. With their operational footprint doubling, it was essential to identify a property that didn’t just meet their immediate space requirements but also aligned with their long-term business objectives.
“Our priority was to minimise business disruption and protect against the financial burden of dual liabilities. By working collaboratively with BlackRock UK Property Fund, we were able to structure a deal that allowed for the surrender of the existing lease at The Crescent and secure a high-quality, newly refurbished space at 3160 Park Square, all within Birmingham Business Park, a location highly valued by ISS for its convenience, amenities and connectivity.
“This transaction is a strong example of how a proactive, tenant-focused approach, combined with an in-depth understanding of landlord portfolios and market dynamics, can deliver mutually beneficial outcomes.”
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