Office of the Month: McLaren

ROB Valentine, from commercial property investment company Bruntwood, offers a tour of office tower McLaren in Birmingham city centre for January’s Office of the Month.

Give us a brief description of the building:

McLaren has 20 storeys of grade A-style space, without the grade A price tag. Located in the city centre’s Priory Queensway, it has 108,000 sq ft of flexible office space, located near to all three mainline railway stations, the metro, a large number of bus routes, the A38 and the motorway.

What’s the most interesting feature about the building?

As one of the city centre’s tallest buildings, it provides impressive panoramic views of the city and region. Customers also enjoy the building’s abundant natural light and its dual aspect floors.

With the future High Speed 2 station on its doorstep, occupiers will benefit from being connected at the heart of the country’s transportation hub.

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

Built for Natwest in the 1970s, McLaren suffered from neglect for several years, before being purchased by Bruntwood in 2007. The company put it through a £7m redevelopment, which included a new double-height reception, air conditioning system and shower facilities.

The tower also has a secure bicycle store, parking provision and DDA-compliant access. Bruntwood acquired McLaren because it fitted in with its strategy of transforming unloved city centre buildings.

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

Customers range from law firms to public sector organisations – 81,000 sq ft is let, with 27,000 sq ft currently available. Space is available from 500 to 23,000 sq ft, which includes two recently completed office suites totalling 11,500 sq ft.

Who owns the building and how is it being financed?

Bruntwood owns McLaren. It is a family-owned company which invests its profits in acquisitions, together with support from a number of leading financial institutions.

What rents are you quoting?

Every package is tailored to suit the needs of customers in terms of price, lease length, flexibility of lease, location and type of space.