The lack of Grade A office space in Nottingham has long been recognised as a challenge for the city, with vacant space now accounting for as little as only c.10 per cent of the total supply, while demand for quality office space is increasing as more and more companies are drawn to Nottingham as the fastest growing city outside of London for high growth businesses.
In response, award winning urban developer Bildurn – well known for iconic projects such as The Pod and Lace Market Square – has recently unveiled a scheme for 50,000 sq.ft of new build Grade A space, known as 11 Station Street, and the market is already very interested.
11 Station Street, the first of two buildings in the development, will deliver high quality flexible office space, suitable for single or multiple occupation. The building offers a striking and highly prominent design, with a feature glazed reception and client welcome area, linking through to what will ultimately be the highest quality office space in Nottingham. This is all topped off with a roof garden to the upper floor, offering the occupier enviable views across the city and a unique, in terms of Nottingham, client entertainment or break out area.
Not only will 11 Station Street deliver in terms of design and quality, but location too. Situated directly opposite Nottingham Station, the building is perfectly positioned to access Nottingham’s transport hub and is on the doorstep of all of the city centre amenities. Combined, 11 Station Street offers a perfect mix of design, accessibility and amenity, helping occupiers to attract and retain the highest quality staff.
Managing director at Bildurn Sean Akins said: “2017 is a very exciting time for Nottingham, for a raft of reasons. The Midlands Engine, for example, is steaming ahead with plans to boost productivity, attract inward investment and increase connectivity, as well as strengthening and expanding the city’s tourism offer. The investment in our world-class tram network and the multi-million pound refurbishment of our station has made bigger businesses sit up and notice us. And our central location is a no-brainer for growing companies looking for a base in the middle of the country.
“Our scheme at 11 Station Street is aiming to remedy the immediate challenge of a lack of Grade A space in Nottingham, first and foremost because it is wholly deliverable. The scale of Phase 1 means that we do not need to piece together a whole host of requirements, or hold out for one very large one, as with many other schemes but, within the context of the Nottingham market, can move forward with what are considered ‘typical’ sizes of requirements. Not only this, we can deliver it within a tight time frame, subject to occupier commitment.”
James Keeton of marketing agents JLL, Nottingham, added: “We are pleased that Bildurn are actively bringing forward 11 Station Street to help address the lack of Grade A office space as part of wider plans for other new build space within the city.
“More recently, high quality office accommodation has been delivered through refurbishments, led by JLL. Take-up has been very strong, reflective of good patterns of demand within the city, but as these buildings diminish, replacing the stock is becoming ever more difficult.
“2017 will see the remaining few refurbishments complete and with space already under offer, the immediate supply of Grade A space will remain in short supply until the delivery of new build space comes forward. Of these, 11 Station Street offers the most deliverable option in terms of scale and a design, combined with a location that is unrivalled in the city. Not only this, but the roof garden offers something really special for an occupier within the city.
“Bildurn should be praised for their confidence in committing to bringing forward new build in the city and we are sure this will be rewarded, further improving the area around Nottingham Station, now recognised as an established and vibrant commercial location.”
Sean added: “Since publicly launching the scheme in the last week of June, we’ve already received a great deal of enquiries and expect this to continue as we carry on with our marketing campaign. We see 11 Station Street very much as a ‘right place, right time development’– and we’re sure it will lead to significant investment in our vibrant and competitive city.”
The first of the two buildings at 11 Station Street will offer 50,000 sq.ft. of flexible office space, purpose built to the BREEAM “Excellent” standard and EPC “A” rating and providing large open plan floor plates of nearly 10,000 sq.ft. The scheme already benefits from an approved development brief and will be followed by a detailed planning application later this year.
Lorraine Baggs, Head of Investment at Invest in Nottingham said: “Bildurn’s plans for 50,000 sq.ft of Grade A office space in this most sought-after location, right on the station’s doorstep, is very welcome news for Nottingham. There is increasing demand for high quality offices in our city centre and so this scheme is an ideal response to meet that demand and is already catching the attention of potential occupiers.
“Nottingham has one of the fastest growing economies outside the South East and is increasingly being seen as a well-connected city with room for growth. Nottingham was recently ranked as the top city in the UK for making your salary go further, making it very attractive to business owners and employees alike. Bildurn’s new development is a welcome addition to the cityscape, and another of example of the exciting growth and regeneration currently underway in Nottingham.”
The office space, which faces the new pedestrianised area on Station Street, will offer secure basement parking and cycle storage, 24-hour access, electric car charging points and high quality contemporary finishes as well as backing on to a waterway aspect.
Businesses which move in to the new development will have global brands on their doorstep, such as Capital One and Ikano, and will be just a stone’s throw away from the bustling heart of the city.
Privately owned and based in Nottingham, Bildurn has experience in developing commercial and mixed-use schemes, both new build and refurbishment, for a range of occupiers. Notable Bildurn schemes in the city include The Pod, Lace Market Square and 1-9 Bridlesmith Gate.