WeWork is continuing to expand its operation in Birmingham after completing its largest deal in the city to date, with the acquisition of seven floors at one of the region’s prime business destinations.
WeWork will welcome members to Six Brindleyplace when it opens for business in Q1 2020.
The letting signifies the largest of three locations for WeWork in Birmingham, following deals at Louisa Ryland House and 55 Colmore Row. The deal represents the largest office letting in the city so far this year.
Designed by Allies and Morrison, Six Brindleyplace benefits from a prime location at the centre of the Brindleyplace estate, overlooking both Central Square and Oozells Square. The seven storey building features a double height reception area, open plan floor plates arranged around a glazed central atrium, a vibrant array of ground floor eateries and 95 basement car parking spaces.
Avison Young and Savills acted on behalf of asset managers Hines, while JLL acted on behalf of WeWork in the deal.
Mary Finnigan, Head of Transactions, WeWork EMEA, Real Estate says: “I’m pleased to announce WeWork’s largest location in Birmingham to date. Our third space will be located at Six Brindleyplace.
“At WeWork, we source buildings depending on the needs of our members. We recognised the demand to expand in Birmingham, and our hope is that our community across the UK and Ireland – which is now 50,000 members strong – will benefit from having access to our spaces in Birmingham, a city which has proven to be very attractive for entrepreneurs, startups and large businesses. We’re looking forward to welcoming our members to the space next year.”
Raj Rajput, Head of Asset Management for Hines, said: “Six Brindleyplace provides a rare opportunity to offer a bespoke headquarters building in the heart of the city; to welcome an innovative and thriving company such as WeWork to Brindleyplace is a great endorsement for the estate as a location that business calls home.
“Flexible working is a trend which has dominated city centre office markets across the UK in recent years and there is clearly healthy demand in Birmingham for collaborative flexi space which WeWork is synonymous with.
“Welcoming yet another blue chip organisation to Brindleyplace underlines its position as a leading business destination in the city.”
Brindleyplace is one of Birmingham’s premier business and leisure destinations, and is currently home to over 10,000 employees from several global companies, including Deutsche Bank, RBS and Deloitte.
The estate is also home to a selection of bars and restaurants, and is on the doorstep of the International Convention Centre and Arena Birmingham.
Charles Toogood, Avison Young, said: “This letting not only showcases Brindleyplace as a sought after location for businesses looking to move into the city, but also the incredible demand for shared office space in the city.
“Seeing WeWork commit to the city at this scale is undoubtedly a huge vote of confidence for Birmingham.”
WeWork will begin a refurbishment of the building immediately and are scheduled to open for business in Q1 2020.
Kelvin Craddock, Director of Tenant Representation, JLL, said: “We are really pleased to have helped WeWork complete their first hat-trick of acquisitions in Birmingham at Six Brindleyplace, complementing 55 Colmore Row and Louisa Ryland House.
“We continue to work with WeWork in the city and are actively progressing further acquisitions, which will create more great locations for its members to enjoy.”