Global insurance brokers Lockton latest high profile letting at 45 Church Street

Lockton, the world’s largest privately-owned independent insurance broker, has taken a 10 year lease on offices of almost 7,000 sq ft on the sixth floor of 45 Church Street, Birmingham.  The office will serve as the base for Lockton’s Midlands operations, and staff who currently operate from Bank House will relocate to the new offices this summer.  45 Church Street is owned and was developed by Standard Life Investments and has already become home to a number of other high profile, market-leading, international professional and financial services firms including Coutts & Co, Hyman Robertson, Liberty Mutual Insurance, Brown Shipley and Mazars.

Debbie Day, Managing Partner of Lockton in Birmingham, has heralded the move as highly significant for the company’s regional strategy: “Birmingham remains an extremely important regional market for Lockton.  We are committed to understanding the markets our clients operate in, and we organise our services along sector lines, for example manufacturing, aerospace and defence, and professional and financial services.  The Midlands is home to so many leading, multinational organisations in our chosen markets, making this a natural location for investment.  The office move demonstrates our intent to invest in client relationships, offering global insurance services to the market.”

Lockton were advised by Birmingham based commercial property agent GBR Phoenix Beard.  Commenting on the move, Ben Thacker, Head of Office Agency at GBR Phoenix Beard said: “Lockton’s requirements were very clear from the outset in terms of the quality of office environment and type of building they were seeking to facilitate the growth of their Birmingham operations. In this regard 45 Church Street met the brief exactly.   Major considerations in their decision were the profile of the other occupiers in the building, the flexibility for growth and the desire to secure a location which would place them at the heart of the central Birmingham business community.”

Matthew Long of DTZ advised the landlord, Standard Life Investments and added: “45 Church Street goes from strength to strength as one of Birmingham’s premier, flagship Grade A office locations.  Lockton’s announcement is another vote of confidence in the development which will receive a further boost this summer when the works to create a new public square on Church Street complete.”