55 Colmore Row, owned by TH Real Estate, is in the running for a prestigious property industry award.
The Grade II listed building is a finalist in the ‘Refurbished/Recycled Workplace’ category at the British Council for Offices (BCO) Midlands and Central England Awards, which are being held next week.
Originally built in 1878, former owner IM Properties undertook a major redevelopment of the building in 2015. The £30 million project included adding an extra floor on top of the building and significantly remodelling the internal space, including bringing the original listed banking hall back into full use as the main reception area.
The redevelopment increased the total net lettable space in the building by 16 per cent, with 143,405 sq ft of Grade A office accommodation and 13,853 sq ft of lower ground floor restaurant space, which is now let to Gaucho and Fazenda. Sixty-four car parking spaces, 57 bike racks and shower/changing facilities were also added to the basement.
55 Colmore Row was subsequently awarded a BREEAM ‘Excellent’ rating, due to its significantly improved energy efficiency and sustainability.
In February, 55 Colmore Row was acquired by TH Real Estate, on behalf of its European Cities Fund, from IM Properties for £98 million.
Luke Duckworth, assistant portfolio manager at TH Real Estate, said: “We’re extremely pleased the redevelopment of 55 Colmore Row, a key historic building in Birmingham, has been recognised by the BCO with its nomination in the Refurbished/Recycled Workplace category.
“Given the historic significance of the building and the challenges associated with it being Grade II listed and in a conservation zone, this was a project of considerable magnitude.
“The aim was to create a coherent, market defining flexible working space, that sets the standard in Birmingham for location and quality of facilities. I think it’s fair to say that has been achieved, credit to IM Properties.”
The BCO is Britain’s leading forum for the discussion and debate of issues affecting the office sector. Its members include organisations involved in creating, acquiring or occupying office space.
Established in 1992, the BCO Awards acknowledge innovation, best practice, top quality design and functionality within the industry.
The winners of the BCO Midlands and Central England Awards will be announced at Birmingham Town Hall on 26 April 2018.
