BGF takes entire floor at landmark Birmingham building
Legal & General has secured investor BGF for the full 12,000 sq ft seventh floor at its landmark Lewis Building in Birmingham city centre.
The deal, taken on a 10 year term, means that the 114,000 sq ft building is now over 60% let with 50,000 sq ft of Grade A office space available, 12 months after the completion of a full refurbishment.
Tom Williams, fund manager, LGIM Real Assets, said: “The refurbishment of the Lewis Building has been very well received by the Birmingham occupational market, with the high quality finishes and bold reception style resonating strongly with the market and driving a successful leasing strategy.”
BGF provides investment to support growing companies and ambitious entrepreneurs and was established in 2011.
Gurinder Sunner, BGF, said: “2018 has been an incredibly active year for BGF, having completed on average one investment per week into SMEs in the Midlands. As part of our continued expansion, we are delighted to have signed the lease on new, larger premises in the Lewis Building in Birmingham.
“The Lewis Building represents a perfect combination of factors that we were looking for, including proximity to the city core. We are now looking forward to the completion of our fit-out in this outstanding location.”
The deal was completed by Will Ventham and Liz Bailey of CBRE, who are joint letting agents on the Lewis Building with Charles Toogood of GVA.
Both the Lewis Building’s other tenants, the Ministry of Justice (MoJ) which occupies the third floor; and Regus’ Spaces co-working concept which occupies 32,000 sq ft on the ground, first and second floors, committed to occupancy prior to the completion of the refurbishment.
Spaces has already successfully let 150 work stations since the completion of its fit-out in July.
Architectural practice EPR were behind the designs of the new building, while construction company Willmott Dixon carried out the works.