Lease deal agreed for sought-after premises

Real Estate Investors, the Birmingham-based property investment company, has agreed a new ten-year lease for one of its premium office spaces in 40 St Paul’s Square.

The deal for the 7,500 sq ft premises has been signed with multi-disciplinary consulting engineers Patrick Parsons Ltd.

Patrick Parsons has taken up the lease of this space within the prestigious Georgian square location to merge its two Birmingham-based offices, bringing together its team from Edgbaston with the team currently residing in a separate space at 40 St Paul’s Square.

Ian Clark, asset manager at REI, said: “We’re pleased to have agreed this new lease with Patrick Parsons at what continues to prove to be a highly sought-after venue. It also reflects well on our detailed approach, as REI was flexible on the lease structure to accommodate the tenant’s requirements.”

Patrick Stienlet, chief executive officer of Patrick Parsons, said: “We are very excited to be merging our two Birmingham teams together and moving them into this great space in the heart of Birmingham. The space offers us the ability to accommodate client meetings and events, and affords us the potential for significant future growth.”