Owner Folkes Properties has attracted two new tenants at Copthall House, a four-storey building in New Road
As part of a £150,000.00 refurbishment, work carried out on two of the four floors, including the upgrading of the central heating systems, new carpets and lighting. Toilet facilities have had a complete revamp and each suite on the second and third floor now have their own kitchen facilities.
The two new tenants are Newsquest Media Group, which has taken a 2,700 sq ft suite, and Alfreton Holdings, which has taken 600 sq ft on the refurbished second floor on a 10-year lease.
Alfreton managing director Tim Brown said: “We have been very happy with the way Folkes have handled the refurbishment and letting of our new office. They have been a pleasure to work with, even providing us with smart temporary offices whilst awaiting the completion of the refurb."
Rachel Hudson, head of media sales at Newsquest, added: “As the world of publishing has changed so dramatically over the last decade or so Newsquest found ourselves leasing a building that was far too large for the current workforce. On looking for a more suitable office space we felt it was important to remain in Stourbridge having been in St Johns House on the Ring Road for over 25 years.
"We therefore viewed the suite at Copthall House due to its ideal location, this was before the refurbishment had taken place, so a little imagination was needed, however the decision was made to go ahead. We are now finally relocated in our fabulous, re-fitted, modern office and everyone seems delighted with their new 'home'. The office was refurbished to a high standard and our experience of working with Folkes has been a positive one."
Existing tenants, Alto Technology Search, has doubled its space to 2,032 sq ft on the newly refurbished third floor and has taken a new lease over six years. Richard Heilbronn, director, said: “Alto Technology were looking to expand our office space and our current landlords, Folkes Holdings, announced a significant investment in the refurbishment of our current building, Copthall House.
"This has allowed us to create a larger, modern workspace that can now accommodate our future growth as a business. We are delighted with the final result."
Adam Priest, asset management director at Folkes Properties, said the improvements were undertaken as part of their active management programme. “We are delighted to have been able to invest alongside the co-owners of the building, enabling it to be used for its intended purpose, rather than convert it to residential use like so many other buildings in Stourbridge”.
Copthall House has only two small office suites remaining to rent and is situated on the Ring Road, a short walk from Stourbridge town centre.
Established over 300 years ago in engineering based companies Folkes today applies the knowledge and experience gained over three centuries to its investing activities .
Folkes Holdings is privately owned by the Folkes family and the majority shareholder, Con Folkes, is the eighth generation to lead the group as chairman and chief executive. The group was listed on the London Stock Exchange until taken private by the Folkes family in 2002.
Today, the business holds its core focus in commercial real estate, and operates a geographical split between the UK and South Africa. All UK and South African investments are managed with those traditional values which remain important to the Folkes culture being strong asset based growth with accompanying income streams. The group remains conservatively geared and retains substantial cash resource to facilitate further investment opportunities.