Office of the Month: Equipoint

ALEX Tross (below), a senior surveyor in the office team at Colliers International in Birmingham, provides a tour of Equipoint in east Birmingham, for October’s Office of the Month.

Give us a brief description of Equipoint:

With its iconic curved shape, Equipoint is a 10-storey landmark building en route to Birmingham Airport in Yardley. It has 100,000 sq ft of office accommodation, with 270 car parking spaces, which can accommodate sole traders at its serviced office facility or single, open-plan floor plates up to 10,500 sq ft.

What’s the most interesting feature about the development?

In addition to its curvy shape, the views of the city are spectacular from the top floor. Occupiers are never more than five metres from a window, so the skyline doesn’t even come at a premium.

What’s the history of the building and what first attracted the developer to it?

Equipoint was developed in the 1960s. Owner Highcross acquired it in 2005 and has spent more than £1m to date refurbishing it. The building is located on the A45, halfway between Birmingham city centre and the airport. The location and its proximity to the motorway network were a major draw for Highcross.

There is continuing investment in Yardley. A new 80,000 sq ft Tesco Extra, with over 700 parking spaces, is being built opposite Equipoint and opens in February. The nearby Swan Shopping Centre is also being revitalised.

How much office space is occupied and how much is available?

Around 40,000 sq ft is occupied, with some 30,000 sq ft currently under offer. Tenants include construction services firm May Gurney, furniture products distributor Ostermann and training provider Seetec.

The remaining 30,000 sq ft can be taken refurbished or as it is with the option to move within the building, allowing businesses to manage their occupational costs at a time when savings are paramount.

Who owns the building and how is it being financed?

The building is owned by HXRUK (Midlands) as part of Highcross Strategic Advisors Investment Fund.
 
What rents are you quoting?

Rents range from £5 per sq ft for second hand space to £12.50 per sq ft for refurbished accommodation.