Developer signs JV with serviced office provider for Colmore Row scheme
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Developer Cervidae has signed a joint venture with London-based The Boutique Workplace Company for its Comlore Row scheme in Birmingham.
Landlord Cervidae was looking for a joint venture partner for the site – inviting six operators to tender for the contract.
The deal solidifies Boutique’s ambition to expand outside of London across major cities in the UK.
The Colmore Row workplace is set to open in Q4 2021, and will offer 423 workstations across 26,000 sq ft.
Cervidae combined three Grade II listed office buildings on the southern side of Colmore Row and Bennetts Hill – refurbishing 6 Bennets Hill, 102 Colmore Road and 104-106 Colmore Row.
Nick Kertesz, investment and asset manager at Cervidae, said: “There is a lot of investment going on in Birmingham, and we are excited to be joining in the action with creatives and corporates alike who are starting and accelerating in the Midlands.
“Our partnership with Boutique is testament to our commitment in the area, which is in the midst of transformation. The co-working, serviced office market is well established in London but less so outside; so Colmore Row is raising the standard as a unique offering within a smart period building in the centre of the city.”
Daniel Wheble, chief executive of The Boutique Workplace Company, added: “It is all happening in Birmingham, it is a flourishing city aided by HS2 which has made it competitive with London for both businesses and talent alike. The demand for flexible working since the pandemic is higher than ever with companies looking to expand their network across the UK via flexible short-term lease, so we are delighted to finally bring Boutique to Birmingham. This market is in need of a unique proposition that offers unbranded, professional workspace within a period property boasting true character.”