Insider Media Limited reports that HMRC has agreed to take 13 floors of office space in the largest commercial letting in Telford for more than a decade
"GVA and Bulleys Bradbury have completed deal which will see HMRC take 112,256 sq ft of space across One and Two Telford Plaza. Leases have been taken on terms of nine to ten years.My question is this, and one that the article has not answered, why did HMRC's original 12,000 sq ft request morph into 112,000 sq ft?
The acquired space will be used by HMRC to consolidate a number of existing offices.
GVA’s initial instruction was to negotiate terms for the acquisition of a single 12,000 sq ft floor in Two Telford Plaza. Additional instructions were then received for acquisition of further accommodation across One and Two Telford Plaza totalling 66,147 sq ft, with a third instruction for a further 34,056 sq ft.
Andrew Venables, GVA, said: "The quality of the space Telford Plaza offers HMRC is exceptional value for money.
"This is a significant letting for the Telford market both in terms of the profile of the occupier and the quantum of the space that has been transacted.
"This deal has developed from our initial instruction to acquire a single 12,053 sq ft floorplate in Plaza Two and working with the landlord’s agent, Bulleys Bradbury, we were able to ensure that Telford Plaza was able to accommodate the growing requirement for high quality, cost effective office space."
Richard Bradbury, Bulleys Bradbury, added: "This is an outstanding letting for the Telford market generally and for Telford Plaza specifically.
"The landlord is naturally very pleased to have an occupier of the calibre of HMRC on site and we have been working closely with GVA throughout this process.
"This letting, together with further recent lettings in the building, has resulted in both Plaza One and Two now being fully let and occupied, preserving a significant number of valuable jobs in the town."
Constituting two commercial buildings, Telford Plaza is located just off Junction Five of the M54 and close to Telford Central railway station.
GVA acted on behalf of the tenant, with Bulleys Bradbury acting for the landlord, Telford Plaza UK."
Maybe HMRC are playing Monopoly?
Tax does have to be taxing.
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HMRC have realised prime real estate in big city centres where the new regional centres will be located is rather expensive. Birmingham regional centre has been downsized so far less staff will be accommodated there. I'm guessing they are expanding cheaper sites such as Telford to locate "overspill" staff.
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