Leading property adviser, Bilfinger GVA has been appointed as letting agent for the Grade II Listed 50-52 Newhall Street in Birmingham City Centre.
Situated on the corner of Cornwall Street and Newhall Street within Birmingham’s burgeoning business district, the building offers a total of 8,000 sq ft of space across four floors.
Acquired earlier this year by Peter Maddox and Associates, the building is due to undergo a significant internal refurbishment – pending planning approval – that will improve the office accommodation and enhance its period features.
Currently around two-thirds vacant, 50-52 Newhall Street offers suites from several hundred to almost 2,000 sq ft, making it an ideal location for businesses of between 5 and 25 employees.
George Jennings, Associate at Bilfinger GVA, said: “We’re seeing a resurgence of interest in these types of offices from both start-up companies and established smaller businesses that are seeing strong post-recessionary growth.
“There is a particular trend for companies transitioning from serviced offices, as leases in standard commercial accommodation can significantly reduce occupational costs if you’re looking at a location on a three to five year lease term.
“Maddox has already demonstrated a strong commitment to ensure that 50-52 Newhall Street is refurbished to a standard commensurate to the expectations of growing and expanding businesses.”
A serviced offices specialist, Peter Maddox Associates provides well-located, high quality flexible commercial spaces. The company has an existing portfolio of properties in and around towns and cities across the Midlands, including Wolverhampton, Worcester and Birmingham.
Richard Maddox, Director, Peter Maddox and Associates, said: “With a growing demand for high quality, smaller offices in Birmingham, we want to go beyond putting down new carpet and adding a lick of paint. We want 50-52 Newhall Street to offer a real wow-factor for occupiers and visitors, with great communal areas and high quality offices.
“We’re sure that Bilfinger GVA will be instrumental in helping us to secure the right occupiers for this statement building.”
Peter Maddox Associates are hoping to have the building refurbishment programme completed and the spaces ready for occupancy by the second quarter of 2016.
Located close to the A38, which provides access to the UK’s motorway network and close to Birmingham’s main railway stations, 50-52 Newhall Street also has outstanding proximity to some of the city centre’s best amenities, bars and restaurants.
