Birmingham’s 1 Newhall Street continues to demonstrate its desirability, securing a new tenant and seeing an existing occupier commit to an expansion and lease regear.
Godwin Group, which took occupation of the building’s 8th floor in 2018, has committed to an additional 2,690 sq ft on the 7th floor. The company has extended its lease across both floors for a further 10 years.
In a separate deal, Mitchell Adam is relocating from its current home in the Exchange Building – just a few doors further down Newhall Street – into the first floor of the building on a 10 year lease.
Joint letting agents for 1 Newhall Street are Avison Young and Savills.
George Jennings, Avison Young, said: “Transactional activity in Birmingham’s office sector continues to deliver strong results, particularly from companies looking to upgrade their space. 1 Newhall Street represents some of the city’s best-located, competitively priced office space and is a prime example of a first-class refurbishment of existing stock.”
Following its acquisition by Ardstone Capital, 1 Newhall Street has undergone a comprehensive back to frame refurbishment programme. The building offers reconfigured and extended floorplates providing 50,000 sq ft of Grade A space over eight floors, all set behind a new fully glazed façade with quoting rents from £22.50psf.
Alongside Godwin Group and Mitchell Adam, 1 Newhall Street has recently welcomed independent construction and property consultancy, RLF. The building also features a 4,850 sq ft leisure unit fronting Newhall Street which has been let to Pret A Manger.
Situated within the city’s Colmore Business District, 1 Newhall Street is just five minutes from New Street and Snow Hill rail stations, and the associated West Midland Metro stops. It also offers 22 car parking spaces, 20 bicycle and 5 motorcycle spaces in the secure basement, accessed from Barwick Street. The refurbishment has also added full changing, shower and drying facilities.
1 Newhall Street was acquired in 2014 by the Ardstone Regional Office Fund, a programmatic venture by Ardstone Capital that is exclusive to clients of CBRE Global Investment Partners (CBRE GIP).