Ambitious plans for the City Centre Enterprise Zone could see Birmingham gain an extra 1.3 million square metres of
office space.
Looking to make the most of Birmingham’s second-city status, the plans aim to boost business, bringing 40,000 new jobs, contributing £2.8 billion to the economy, and building a sustainable growth model over the course of the next 20 years.
Birmingham City Council has given the green light to a plan to refurbish an old four-floor office building based in the centre of Birmingham and create a new school.
Despite fears over a lack of outdoors play area and its built-up central location, Council planners plan to go ahead with the conversion from city office block to secondary school, ready to be operational for the 2012-2013 school year.
The World’s largest privately owned insurance broker has secured new office space in
Birmingham as it seeks to develop its business across the region.
Totalling 6,375 sq. ft. of office space, US based firm Lockton have secured a 10 year lease at 45 Church Street, a 12 storey development providing Grade A office space close to Snow Street station in the city centre.
The UK Key Cities Office Trends 2012 report also revealed a weak market resulted in a national fall in occupier demand and investment volumes last year.
The latest UK Key Cities Office Trends report from Drivers Jonas Deloitte has revealed that the majority of Birmingham office rents remained static throughout the course of 2011.
Although a large proportion of prime office rents in the city remained at around £27.50 per sq ft, some rents fell to £20-£25 per sq ft according to the report. Drivers Jonas Deloitte also revealed that total occupational take up in Birmingham hit just under 700,000 sq ft across 141 deals last year – a number remarkably close to the total for 2010. (more…)
The world’s largest architectural firm will create up to 50 jobs in the first step of its UK expansion plans.
The world’s largest architectural firm Gensler has announced it has chosen Birmingham as the location for its first UK office outside of London.
The firm are currently thought to be assessing options within the city centre and are expected to make a significant investment in the city within the next 12 months. The new Birmingham office, which could create up to 50 jobs, marks the first step of Gensler’s major UK expansion plans. (more…)
The letting means the iconic building in the city centre is now 100% occupied.
The Cube in Birmingham is now 100% occupied after securing two new tenants earlier this month.
The Law Society and Solicitors Regulation Authority have agreed to take the remaining 57,000 sq ft of office space in the iconic city centre building which is due to be open later this year. As part of the deal, the SRA and Law Authority will consolidate offices in Redditch and Lemington Spa and relocate 700 employees to the new Birmingham office space. (more…)
The commercial property company are thought to have paid just under £20 million for the building which is located next to Birmingham New Street Station.
Bruntwood have confirmed they have purchased the Centre City building in Birmingham for just under £20 million.
Consisting of 209,000 sq ft of office space, the Centre City building has been purchased for £19.7 million with funds generated by the sale of the firm’s 1 New York Street office development in
Manchester earlier this month. Adjacent to Birmingham New Street Station and the Bullring shopping centre, the property is already home to a host of tenants including Legal & General and Ofwat. (more…)
American fund manager Invesco has purchased the 100,000 sq ft office and retail scheme in the city centre.
Property developer Bruntwood has announced that it has completed the sale of 1 New York Street in Manchester for £42 million, reflecting a 6.5% yield.
The 100,000 sq ft office and retail scheme, which is currently 85% occupied, has been purchased by American fund manager Invesco. Designed by Denton Corker Marshall, the property is home to key tenants in the city centre including Turley Associates, Aecom and law firm Mills & Reeves. (more…)
DTZ also predicts that grade C availability will increase in some regions.
Research has shown that half of the office space in Birmingham is at grade C level.
The research by DTZ states that of the 15.4m sq ft of space that the city has, 50% is poor quality secondary space. (more…)
The group paid €25 million for Direct Line House in the city’s business district.
Deka Immobilien GmbH has purchased Direct Line House in Birmingham’s business district for €25 million according to reports out this week. The group purchased the property from a fund managed by Signature Fund Management Limited.
Situated at 10 Livery Street, the office property provides more than 63,000 sq ft of Grade A office space in a prime West Midlands location. Completed in 2001, the property is currently fully let to insurance provider Direct Line for another 10 years. (more…)