AshbyCapital opens first project in Birmingham after £3.5m refurbishment

REAL estate investment advisor AshbyCapital has completed its enhancement programme for Birmingham’s Colmore Building.

The £3.5m programme has seen the addition of a gym, treatment rooms, bicycle parking, changing rooms and a drying room, as well as a refurbished reception area and a new 1,000 sq ft café, branded &More Coffee House and operated by The Genuine Dining Company.

The Colmore Building is now said to provide Birmingham’s most comprehensive offering of on-site amenities.

The 14-storey building, formerly Colmore Plaza, is home to tenants including Allianz, Grant Thornton, Investec, Marsh and Vodafone. It has a BREEAM environmental and sustainability rating of ‘Excellent’ and is able to accommodate lettings of up to 104,000 sq ft across flexible floor plates of 23,000 sq ft.

Peter Ferrari, Chief Executive of AshbyCapital, said: “With forward-thinking companies increasingly choosing Birmingham as a location to do business, there is a significant market for office space that meets the demands of modern occupiers.

“What people want from their workspace is changing: our enhancement programme at The Colmore Building has upgraded this high-quality building to a world-class business location with the kind of facilities that appeal to employers focused on attracting the best talent.

“With strong interest in the available space already, we look forward to welcoming new tenants to the building soon.”

Agents for The Colmore Building are Bilfinger GVA and JLL. Architects Morey Smith designed the enhanced spaces.

This building is Ashby’s first investment outside London. However, the company said the decision to invest in Birmingham had been an easy one.

Mr Ferrari added: “The London market, in terms of investment, office space and housing, is increasingly expensive and overcrowded. As a result, many UK and overseas investors and occupiers, once captivated by the capital, are turning their attention to our regional cities.

“For those looking at the regions, today’s Birmingham is a compelling option. This city is already home to 33,000 businesses – the largest concentration outside London. Birmingham airport is less than 15 minutes from where we stand, and the HS2 project is set to cut journey times between London and Birmingham to 49 minutes, making it as close to the capital as many London suburbs.”