Second deal in a month agreed for Birmingham office building
A BIRMINGHAM city centre office building has secured its second major let in the space of a month.
Oxygen Finance has followed insurance firm Markel in taking space at Cathedral Place.
GBR Phoenix Beard, now part of international real estate advisor Savills, advised building-owner Canada Life Investments on the latest deal.
Oxygen Finance has agreed a new five-year lease for the property’s 2,035 sq ft (189 sq m) fourth floor, which features modern office space behind a period façade, and will pay a rent of £48,840 per annum.
The landlord, which had hinted a second deal was on the cards, has carried out extensive improvements to the building including a reception refurbishment and addition of Caffe Nero on the ground floor. There are also plans to convert the basement to a cycle storage space with shower facilities.
Located on the corner of Temple Row West and Waterloo Street, Cathedral Place sits within Birmingham’s prime office district and overlooks St Philip’s Cathedral. The property has attracted a number of high profile occupiers including Springboard Corporate Finance and recruitment firm Greenwell Gleeson.
Joe Shorney, surveyor in the offices team at Savills, said: “We are pleased to have secured this deal with Oxygen Finance, which further underlines the reputation of Cathedral Place as a destination for leading global firms. There is now just one floor of available space remaining and we expect high levels of occupier interest.”
Knight Frank represented Oxygen Finance. GBR Phoenix Beard acted jointly with Cushman & Wakefield.
