Lloyds Bank unveils major refurbishment plans

Lloyds Bank has revealed plans for the refurbishment of its 125 Colmore Row site, as it looks to create a ‘sustainable hub’.

The West Midlands Pension Fund acquired the 150,000 sq ft building for £80m from EPIC UK in May 2022. Lloyds has occupied the building since it was developed in 2001, with a lease in place until 2030.

Now, the bank is set to add fitness and events spaces as well as a café with workstations.

As it aims it fulfil its 2030 sustainability targets, Lloyds will replace its existing gas boilers with a heat pump systems which its believes will save 1.8 million kWh of gas per year as well as reducing 332 tonnes of CO2 for its carbon footprint.

Smart water monitoring systems will be added as Lloyds looks to reduce its water consumption by 60%.

125 Colmore Row which is split across the ground and eight upper storeys, has 66 basement car parking spaces over three levels. The refurbishment will now switch 13 spaces to become new electric vehicle charging points and add further bike racks.

Sharon Doherty, chief people and places officer at Lloyds Banking Group said: “Birmingham is one of our key strategic hub sites where teams including our data, technology, customer, and client facing teams are based.

“This is why we’re making a significant investment in our Colmore Row office to create a state-of-the-art, sustainable hub where 2,260 of our colleagues can work collaboratively together in a refurbished office space.

“Building energising and collaborative spaces in the communities we serve, like Birmingham, is at the heart of our business strategy and central to our purpose of helping Britain prosper.”

Cllr John Cotton, Leader of Birmingham City Council, said: “The growth of our financial and professional services sector is a great success story for the city, so I am delighted that Lloyds, Birmingham’s first ever bank, is making this commitment.

“As one of the city’s largest financial and professional services firms, the investment Lloyds Banking Group are making in their Colmore Row site will significantly reduce their carbon footprint, which supports Birmingham City Council’s ambitious plans to achieve net-zero carbon status.”