Wealth management group agrees terms for landmark Birmingham building

Tilney Smith & Williamson, the wealth management and professional services group, has signalled its growth ambitions in the Midlands by agreeing terms for Birmingham’s landmark 103 Colmore Row, the tallest office building under construction in the UK outside London.

The group, which was formed in September 2020 from the merger of Smith & Williamson and Tilney and looks after £54.8bn of assets for its clients, is taking the fourteenth floor of the building.

The space will accommodate around 150 people from the two legacy businesses who will move into the building next year from their existing locations at 9 Colmore Row and Baskerville House, Centenary Square.

Tilney Smith & Williamson signed the deal for the space with joint venture partners Tristan Capital Partners (Tristan) and Sterling Property Ventures (Sterling) at an undisclosed rent.

The building boasts a two-storey top floor restaurant and ground floor café, both to be operated by D&D London, with 31,500 sq ft of flexible office space on the first, second and third floors managed by workspace provider x+why. It will also operate the members business club on part of the eighteenth floor.

Dr Adam Parker, managing director of Tilney Smith & Williamson’s Birmingham financial services team, said: “Tilney and Smith & Williamson are two of the leading wealth management businesses in the Midlands and so we are delighted to be able to bring them together as one team at 103 Colmore Row. Our new office will allow us to keep pace with our ambitious regional expansion plans.”

Stephen Drew, professional services regional managing partner at Tilney Smith & Williamson in Birmingham, added: “We are excited by our move to a landmark building in our growing city. Our professional services team has more than doubled in the last 12 months and, as our growth journey continues, we are delighted to be able to offer a contemporary and smart working environment for our clients and team.”

James Howarth, managing director of Sterling, said: “As a leading name in the professional and financial services sector, we’re pleased to have secured Tilney Smith & Williamson as a tenant at 103 Colmore Row.

“The opportunity to co-locate both of its existing offices onto a single floorplate in a modern, smart-enabled building, enabling it to combine smart working with first class meeting and collaboration space for staff and clients, whilst having access to additional on-site amenities, such as the members business club, were major plus points in its decision to move to 103 Colmore Row.”

Paul Pritchard, director at Tristan, said: “It is exciting to see forward-thinking businesses confirming their plans for how they intend to operate in the future. High quality and innovative workspaces are becoming a key requirement for high-knowledge businesses and we are delighted to announce Tilney Smith & Williamson as the latest occupier to choose 103 Colmore Row as its new home. 103 is setting the new benchmark for best-in-class office space and we are looking forward to welcoming further innovative and creative businesses to the building very soon.”

103 Colmore Row is scheduled for practical completion in October this year. Letting agents for the building are Colliers International, Cushman & Wakefield and Knight Frank.

King & Wood Mallesons provided legal advice to Tilney Smith & Williamson on the transaction.