The dramatic overhaul of New Street Station and the new Grand Central shopping centre is having a positive ripple effect on commercial stock in the city according to reports from family owned property company Bruntwood.
The developer, which owns a number of buildings in the city centre has seen a steep rise in enquiries and lettings at its Centre City building on Hill Street following the unveiling of Birmingham’s new station and retail complex.
The National Association of Citizens Advice Bureaux has taken an entire floor, amounting to 7, 500 sq ft; and YTKO Group has taken on 1,811 sq ft of space for its new GetSet for Growth West Midlands team, which is delivering fully funded strategic growth support to local businesses.
Centre City customer Ofwat, the water service regulation authority, has renewed its lease on 15,000sq ft in the building, following a £792,000 refit of its space.
The building is illustrative of Bruntwood’s acclaimed sustainable approach to commercial development, looking to redevelop and refurbish existing stock to transform them into modern and desirable business spaces.
Rob Valentine, head of Bruntwood’s Birmingham office, said, “Centre City is ideally situated just metres from New Street station and Grand Central and we have undoubtedly benefitted from Birmingham’s investment in the area.
“We take pride in our sustainable approach to development, looking to recycle existing space and maximising its potential to create attractive, flexible offices and it is always satisfying to see it pay dividends.
“When we bought the building in March 2012 it was only 30% occupied. Now following our comprehensive renovation of the building and the proximity to Birmingham’s new flagship transport hub and retail development, occupancy is at 83%.”
Bruntwood owns and manages more than 140 properties in four UK cities. Elsewhere in Birmingham, it owns the revamped Grade II listed Cornwall Buildings on Newhall Street, and work has begun on its £14 million transformation of Two Cornwall Street.
Bruntwood’s most ambitious project to-date, the redevelopment of Two Cornwall Street, will prove 110,000 sq ft of Grade A office space at the heart of the Colmore Business District in 2016.
