Leading bank expands Birmingham presence by 40%
DEVELOPERS have praised a decision by Handelsbanken to expand the size of its Birmingham operation.
The bank has agreed to enlarge its city centre base at Two Colmore Square by 40% and signed a new seven-year lease on the space with Nurton Developments.
The deal follows in the wake of another letting agreement for the building, this time by Jacobs Engineering, which has become one of the first companies to relocate close to the new HS2 Construction headquarters at Two Snowhill.
Rupert Young, development director for Nurton Developments, said Handelsbanken’s decision demonstrated its continued commitment to the region.
“It’s excellent to see an organisation which prides itself on banking continuing to flourish. There’s no substitute for face to face. It is the same way we like to work with our own tenants,” he said.
“We’ve attracted some excellent high profile names since we acquired the building in 2004 including VAX, Shoosmiths and Jacobs. This expansion is also a sign of the great strength of the Birmingham market.”
Handelsbanken’s Regional Head, Nick Lowe, added: “I am delighted by the fact that our branch network in our Central Region, has almost doubled to 42 branches since its inception in 2011, which has resulted in our need to take a little more space.”
“The growth is a testament to the success our local relationship banking approach which enables local branches to make local decisions for local customers.”
There is now just 35,432 sq ft net remaining at Two Colmore Square & Cannon House, spread across three suites. The refurbishment of level seven at Cannon House representing 50% of the void is under offer to an occupier and the deal is expected to complete this month.
