The capital markets team at leading commercial real estate services firm, CBRE, has been appointed to sell 120 Edmund Street, a prime repositioning opportunity strategically located in Birmingham’s core commercial district.
Previously occupied by HSBC, the 140,546 sq ft office building now stands vacant and comprises of two basement levels, a ground and eight upper floors, all featuring adaptable 17,500 sq ft floorplates capable of catering to either a single occupier or multiple tenants. The building was also granted planning permission for a 40,000 sq ft extension and complete refurbishment in 2024.
Birmingham’s office market is currently experiencing a severe shortage of Grade A space, with prime headline rents rising to £52.00 per sq ft, the highest out of the UK’s Big Six cities. 120 Edmund Street is uniquely positioned to capitalise on these favourable occupational market dynamics.
Nick Woodward, Head of CBRE’s Birmingham Investment team, said: “The Birmingham market is currently experiencing a major shortage of Grade A supply, with no new schemes being progressed and record regional rents being set. 120 Edmund Street is one of very few buildings able to deliver high quality office space into the local market within the next few years.
“Currently vacant, stripped-out and with planning permission already granted, this building is a rare blank canvas, ready for an investor to take charge of the building’s design, specification and leasing strategy. 120 Edmund Street can capitalise on the favourable dynamics of the occupational market and answer the city’s medium term supply gap.”
