Tilney Smith & Williamson, the wealth management and professional services group, is to merge its Birmingham operations into a new single office at 103 Colmore Row as part of its growth ambitions for the Midlands.
The company has agreed a ten-year lease on 12,146 sq ft on the 14th floor of the 26-storey landmark building with joint venture partners Tristan Capital Partners (Tristan) and Sterling Property Ventures (Sterling). The rent is undisclosed.
Tilney Smith & Williamson was formed in September 2020 following the merger between Tilney and Smith & Williamson. The company specialises in personal wealth management, including financial planning, investment management and personal tax advice, as well as assurance and accounting, business tax advice, employee benefits, forensic advice, fund administration, recovery and restructuring, and transactions services for businesses. It looks after £54.8 billion on behalf of its clients.
Currently based in offices at 9 Colmore Row and Baskerville House, the firm will move to the new office at 103 Colmore Row, where it will accommodate around 150 people.
In addition to its office on the 14th floor, Tilney Smith & Williamson will have access to the members’ business club on the 18th floor, where it can hold seminars, presentations and outdoor events on the 3,000 sq ft terrace.
Dr Adam Parker, managing director of Tilney Smith & Williamson’s Birmingham financial services team, said: “Tilney and Smith & Williamson are two of the leading wealth management businesses in the Midlands and so we are delighted to be able to bring them together as one team at 103 Colmore Row. Our new office will allow us to keep pace with our ambitious regional expansion plans.”
Stephen Drew, professional services regional managing partner at Tilney Smith & Williamson in Birmingham, added:“We are excited by our move to a landmark building in our growing city.
“Our professional services team has more than doubled in the last 12 months and, as our growth journey continues, we are delighted to be able to offer a contemporary and smart working environment for our clients and team.”
103 Colmore Row comprises 223,631 sq ft of BREEAM ‘Excellent’ Grade A office space. At 26-storeys, 354 ft high, it is the tallest office development under construction in the UK outside London.
The building boasts a two-storey top floor restaurant and ground floor café, both to be operated by D&D London, with 31,500 sq ft of flexible office space on the first, second and third floors managed by workspace provider x+why. It will also operate the members’ business club on part of the 18th floor.
James Howarth, managing director of Sterling, said: “As a leading name in the professional and financial services sector, we’re pleased to have secured Tilney Smith & Williamson as a tenant at 103 Colmore Row.
“The opportunity to co-locate both of its existing offices onto a single floorplate in a modern, smart-enabled building, enabling it to combine smart working with first class meeting and collaboration space for staff and clients, whilst having access to additional on-site amenities, such as the members business club, were major plus points in its decision to move to 103 Colmore Row.”
Paul Pritchard, director at Tristan, said; “It is exciting to see forward-thinking businesses confirming their plans for how they intend to operate in the future. High quality and innovative workspaces are becoming a key requirement for high-knowledge businesses and we are delighted to announce Tilney Smith & Williamson as the latest occupier to choose 103 Colmore Row as its new home. 103 is setting the new benchmark for best-in-class office space and we are looking forward to welcoming further innovative and creative businesses to the building very soon.”
103 Colmore Row is scheduled for practical completion in October this year. Letting agents for the building are Colliers International, Cushman & Wakefield and Knight Frank. King & Wood Mallesons provided legal advice to Tilney Smith & Williamson on the transaction.
