Seneca buys two Midlands office buildings as it continues nationwide expansion

Newtown-le-Willows firm hails ‘strong early leasing momentum’

Investor Seneca Property has completed its fourth deal of the year with the purchase of two office buildings in the Midlands.

The Newton-le-Willows group last year said it had £25m ready to invest in continued nationwide growth and has now strengthened its West Midlands portfolio with the deal for the two Solihull assets. It says is still looking for further similar opportunities across the UK.

At first new acquisition Dominion Court, on Station Road in Solihull town centre, Seneca has already secured a 5,000 sq ft letting. Another 6,000 sq ft is under offer and set to complete shortly, which Seneca says demonstrates “strong early leasing momentum”.

At second new acquisition Pegasus, in the Cranmore Business Park, Seneca has begun a refurbishment project including the creation of a new gym and a premium business lounge. The investor said the move is “aimed at creating a more amenity-rich environment aligned with modern occupier expectations”.

Jeff Morton, CEO of Seneca Property, said: “These acquisitions are a strong fit with our strategy of targeting assets where we can take a proactive approach from day one. The early leasing activity at Dominion Court, combined with our repositioning plans at Pegasus, reflects both the strength of the Solihull market and our ability to execute quickly.”

Chris Bullough, managing director of Seneca Property, added: “There is a clear shift in occupier expectations towards higher-quality, amenity-rich workspace. Our focus at Pegasus is to deliver a product that responds directly to that demand, while continuing to drive income across both assets.”