Stoford Cements Double Deal

Birmingham based Stoford Developments is celebrating a double triumph this week, having achieved the largest commercial pre-let on the M42 for the past five years and secured the investment sale ofthe development to M&M Finance (Ireland) Ltd for £22 million.

In what is thought to be a record sales yield for the area, the three-acre site, situated adjacent to the NEC, Birmingham International Airport and the railway station is to be the new UK headquarters of Lafarge Cement, the UK’s leading cement maker. Moving from its current base in Chilton, Oxfordshire, the company will bring over 100 jobs to the area, creating significant inward investment.

Stoford secured the site after a competitive bid involving 10 local and national developers. The companyhas worked closely with Lafarge Cement in a one-stop service to secure a site which best met their needs and will now develop and fit out the new 60,000 sqft landmark offices.

This is believed to be the largest commercial deal on the M42 since Stoford acquired Aspire - a £50 million office scheme adjacent to junction 4 of theM42 - in 2004. Stoford director, Dan Gallagher says:

"It is rare to completely pre-let a site, so to achieve this and secure such a prestigious tenant in a prime position is a major result for the company.

"We believe our success is testament to the faith clients put in us, based upon our proven track record of delivering high quality commercial schemes. We worked hard to get in tune with Lafarge's needs and deliver a site which so closely matched their requirements, a central location with great access to road, rail and air links. "

Mr Gallagher added: "Providing a seamless one-stop service enables economies to be made, streamlining the entire process, reducing costs and providing greater control and accountability for the client."

The new offices will create a showcase for Lafarge building products and the use of cementitious materials in sustainable construction. A concrete frame will be complemented by further concrete and glass cladding to make a landmark building which will clearly stand out and put Lafarge Cement on the map in the Midlands.

Delighted with the news of Lafarge's move to the NEC, Lynda Hackwell, head of Community and Economic Regeneration for Solihull MBC, said:

"This is fantastic news for the Borough and demonstrates continued confidence in Solihull as the important business location in the West Midlands.

"This is a key investment that will bring a number of economic opportunities to the Borough. This investment will not only benefit the wider business community but also the people of Solihull.

"We welcome Lafarge's decision to locate to the town and look forward to developing a meaningful and long-term relationship."

David Simms, Lafarge Cement’s Land and Planning Director, added: "We are delighted that Stoford have managed to secure such a prime siteand will now manage the project from start to finish, enabling us to have greater control and ensure the end product really meets to our needs.

"Without doubt, the advantages of this central location and unrivalled access to the communication network were among the decisive factors for us in choosing Solihull as the home for our new HQ."

Work is expected to start on site early next month and the building should be ready for occupation in the second half of 2007.
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