Letting at 35 Newhall Street represents boost for city centre rental market

Joint letting agents KWB and Jones Lang LaSalle have secured Birmingham’s largest city centre letting of 2012, bucking a downbeat first half of the year.

Acting on behalf of CBRE Global Investors – asset managers for West Midlands Pension Fund – KWB and JLL finalised the letting of 19,000 sq ft of Grade A space on the first and second floors of 35 Newhall Street to management engineering and consultancy company Mott MacDonald.

With over 14,000 staff world-wide, Mott MacDonald is one of the world’s largest employee-owned companies, with offices in nearly 50 countries and projects in 140. The consultancy has had an office in Birmingham for over 50 years and these newly acquired offices will continue this tradition of having a significant presence in the centre of the region.

Nigel Tripp, KWB, said: “While the first half of the year has provided us with some positive signs, attracting a letting of this size in the current climate is great news for 35 Newhall Street and also a positive sign for the market in general.  I believe that we will continue to see this kind of movement from occupiers, shifting away from older properties that require a greater level of upkeep, to prime, Grade A city-centre locations such as this.

“Following on from this letting and with only one suite remaining in the building, it is safe to say that of all new-build Grade A space available in the city, 35 Newhall Street is most certainly one of the most successful.”

Located on the corner of Newhall Street and Edmund Street, in the heart of Birmingham’s business district, 35 Newhall Street has recently undergone a comprehensive refurbishment programme and part new-build, providing outstanding Grade A office accommodation options.

Ashley Taylor, Director, Mott MacDonald, said: “The refurbished interior and additional new build elements really make 35 Newhall Street stand out as a genuinely impressive Grade A office building that has a real synergy with our ethos as a company.

“35 Newhall Street is also in a great location in the city centre, within easy walking distance of both New Street and Snow Hill stations and with a convenient connection to the national motorway network via the A38M, giving us the best of both worlds.“

The letting to Mott MacDonald leaves only one 2,300 sq ft suite unoccupied on the building’s ground floor.

Mott MacDonald will join other professional and financial services companies at 35 Newhall Street, including Kennedy’s Solicitors, Three Lions Underwriting, Zolfo Cooper, MCR Aldermore Bank and Capsticks Solicitors.

Jones Lang LaSalle and KWB are joint agents for the property which is managed by CBRE Global Investors on behalf of the West Midlands Metropolitan Authority Pension Fund.