Law firm signs up to £700m Paradise scheme
Law firm DLA Piper has become the first office tenant to sign up to Two Chamberlain Square at the £700m Paradise development in Birmingham.
DLA Piper has committed to a 15-year lease for 40,000 sq ft of space across the top two floors of the eight storey building as part of its growth plans in the region, moving from its current home in Victoria Square House in 2020.
The new office, which includes a terrace overlooking the transformed Chamberlain Square, will allow DLA Piper to continue to grow its Birmingham office which currently has more than 150 lawyers and staff.
Two Chamberlain Square is an eight storey, 40 metre (140 feet) high commercial building in the heart of Paradise with active ground floor levels designed for restaurant, bar and retail usage.
The building is part of Phase One of Paradise which will complete later this year and incorporates 360,000 sq ft of new office space, including the adjacent One Chamberlain Square, which is fully let to PwC.
Trevor Ivory, Birmingham Office Managing Partner at DLA Piper, said: “Birmingham is a strategically important location for DLA Piper, with some of our biggest clients based in the West Midlands. The next decade is one of opportunity for Birmingham and the region, with the arrival of HS2 and the Commonwealth Games being just two of the most obvious opportunities ahead. Our global clients have recognised this opportunity and are looking to invest in the region and we are investing in our business to make sure that we can continue to support them.
“We pride ourselves on having the best people in the city and we shall soon have an outstanding office and the best address in the city as well, which will help us to continue to attract the brightest talent from the region and beyond. It is particularly exciting given the role that DLA Piper played in delivering the Paradise redevelopment; with our lawyers advising Argent on the planning of the development and the property and infrastructure funding for the project.”
Chris Taylor, Head of Private Markets at Hermes Investment Management, said:“The arrival of DLA Piper is a major milestone for Paradise and along with PwC helps to establish the development as Birmingham’s premier business address. Birmingham’s reputation as a major business location is underlined by the confidence shown by those global firms, like DLA Piper, committing to Paradise.”
Rob Groves, Regional Director at Argent, said: “Having a major international law firm like DLA Piper on board at Two Chamberlain Square demonstrates the interest in the scheme from top calibre occupiers. With PwC taking all the commercial space in the neighbouring One Chamberlain Square and positive momentum on our next building, One Centenary Way, we are confident of further office occupier announcements in due course.”