Birmingham based Nurton Developments has completed a £2.7 million modernisation of 4 Temple Row, in their joint venture WINDL offices Ltd.
Offering nearly 23,500 sq ft of Grade A office space on the corner of Temple Row and Bull Street, with a Metro stop outside, Nurton is aiming to capitalise on the shortage of smaller floorplates in the Colmore Business District, with offices ranging from 2,500 to 4,400 sq ft.
Nurton bought 4 Temple Row – known then as Aspect Court – in November 2015 with their private investor partner as part of a £9m joint venture, which also included the acquisition of Wireless House at Warwick Technology Park which has also undergone a £2.9 million refurbishment.
Rupert Young, development director at Nurton, said: “The Colmore Business District, which has always been popular with occupiers, has been significantly improved by the wide range of independent retailers and top end bars and restaurants which have opened for both daytime and evening trade.
“Whilst there is a good supply of refurbished offices coming forward, with new developments set to follow from 2018 onwards, most only offer larger floorplates and are likely to attract a premium rent. Our space is specifically geared to occupiers requiring smaller space, perhaps taking their first steps into the city centre, but who still want offices which reflect quality and ambition.”
The work at 4 Temple Row has seen the façade of the building cleaned and repaired and the windows replaced throughout. An enlarged reception area has been created, two new hi-speed lifts have been installed and the offices have raised floors, metal suspended ceilings incorporating LED lighting and new 3 pipe VRF air conditioning throughout. Showers in the basement and cycle storage facilities on the ground floor will also shortly be installed.
Andrew Riach from JLL, joint agents on the space with CBRE, said: “4 Temple Row will fill a gap in the market for occupiers seeking small floor plates within a high quality, well connected building at a reasonable cost. The quoting rent at £19.50 psf pa represents great value.”
“These newly refurbished offices will be a very attractive proposition for occupiers.”
