Big deal sealed for Paradise Birmingham
Built environment consultancy Arup has confirmed it has signed a long-awaited pre-let deal which will see it move its third largest global office to Paradise Birmingham, bringing 1,000 jobs to the city centre.
By moving from its existing Solihull campus, Arup is the first occupier to commit to One Centenary Way, the latest building under construction at Paradise.
Arup’s new ‘city campus’ will be set across 68,000 sq ft of space over three floors of the new 13 storey building, which is due to complete in early 2023.
The office will also become a meeting point for Arup’s 6,000 UK staff.
One Centenary Way, which has been designed by Arup in partnership with Glenn Howells Architects, provides a catalyst for Arup’s growth in the UK and accelerates the company’s global commitment to move to net-zero by 2030.
Mark Jones, Birmingham office leader at Arup, said: “Our investment in this move to Paradise Birmingham in 2023 represents a major commitment to the region. It supports our global aim to build flexible workspace and is a significant milestone in our journey towards achieving net-zero emissions across our global operations by 2030.
“We are incredibly proud of this new location and the role it will play in bringing 1,000 jobs to the city centre. Our new office has been designed by us and for us and will feature advanced technologies enabling us to operate in a highly efficient way. It will create an environment where our colleagues can be authentic and find balance by working flexibly whilst continuing to deliver excellence for our clients.”
Rob Groves, regional development director with Paradise development manager MEPC, said: “This is a very significant pre-let for Birmingham’s latest landmark building. One Centenary Way has already benefited from the input of the Arup team and we share a trusted and longstanding partnership and a shared commitment to creating innovative new places and spaces.
“To welcome the same Arup team to the building they helped to create is therefore a huge vote of confidence not just in Paradise, but in Birmingham city centre. Arup is also showing the way and leading by example by creating a more sustainable workplace of the future in the very heart of the country.’
The Paradise redevelopment is being brought forward through Paradise Circus Limited Partnership (PCLP), a private-public joint venture with Birmingham City Council. The private sector funding is being managed by the international business of Federated Hermes, which has partnered with Canada Pension Plan Investment Board (CPP Investments) on the first phase of the development. MEPC is the development manager.
Chris Taylor, CEO of Real Estate at the international business of Federated Hermes, said: ‘This is yet another example of the kind of world class occupier we can draw into the heart of Birmingham when we create the right environment. As a major international business, Arup is showing confidence not just in Birmingham, but in the UK as a whole by investing here in Paradise in a location where it can change its working practices and continue to innovate, flourish and grow.
“As long-term investors, we are committed to maintaining a forward-thinking approach and bringing forward a scheme that will truly meet the needs of occupiers in the years to come.”
Paradise Birmingham has already completed phase one of its development with One Chamberlain Square and Two Chamberlain Square providing some of the best views in Birmingham.
PwC has already moved its 2,000-strong team to One Chamberlain Square while DLA Piper has taken the top two floors of Two Chamberlain Square along with space going to Knights and Mazars.
BNP Paribas and Reed Smith acted for Arup while Avison Young, CBRE and Bryan Cave Leighton Paisner advised MEPC on the letting.
Paradise sits in the country’s largest city centre Enterprise Zone and has already benefited from investment by the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) in enabling and infrastructure works.
Chair of Greater Birmingham and Solihull Local Enterprise Partnership, Tim Pile, said: “This move by Arup is hugely significant and it is great to see a leading blue chip, international business choose Paradise as its home. The GBSLEP has invested £139 million into Phase 1 and 2 of Paradise as part of our Enterprise Zone Investment Plan and we are already seeing the benefits for our region. Overall, we expect 10,000 jobs will be delivered along with 1.7m sq ft of new prime floorspace.”
