Office redevelopment brings 50,000 sq ft of Grade A facilities to market
The completion of a new office development in Birmingham city centre has seen 50,000 sq ft of Grade A office space brought to the market.
1 Newhall Street, formerly Phoenix House, has been completely refurbished at a cost of £9m.
The building was stripped back to its frame and reconfigured to accommodate the new office space, which is expected to be in high demand due to the building’s location in the city’s business district.
The work on the building has seen the installation of a fully glazed façade fronting Newhall Street as well a refurbished and enlarged reception. The extended 6,400 sq ft office floor plates have been designed to accommodate current trends, with the full height glazing adding to the light and airy feel.
The redevelopment has also seen the creation of a timber clad roof terrace providing an executive suite on the top floor with views across the city.
Agents are targeting firms looking to accommodate around 28-65 staff on a single floor. This differentiates the building from other recent refurbishments that lean towards larger requirements. It is though the size will appeal to both the traditional professional service sector and the tech occupier sector.
A 4,850 sq ft ground unit fronting Newhall Street has also been made available.
Michael Cecil, Ardstone Capital said: “No stone has been left unturned in the transformation of a tired office building into high quality office space that we feel is befitting of its location. Not only have we changed the building aesthetically we have also made significant structural alterations throughout, including an extension to provide continuous floorplates.”
The building was acquired by The Ardstone Regional Office Fund, a programmatic venture funded by clients of CBRE Global Investment Partners (CBRE GIP) in 2014.