Hines, the international real estate firm, has completed a 23,500 sq ft office letting at Two Snowhill, Birmingham, the 310,000 sq ft building developed in a joint venture with Ballymore.
Expanding serviced office group i2 is moving into the first and second floors of the 14-storey building to operate its second business centre in Birmingham, following the success of its centre at Brindleyplace, also part of the Hines’ portfolio.
Launched in Spring 2013, Two Snowhill is one of the largest office buildings outside London to complete this year.
Anthony Leonard, Director at Hines, said: “We are delighted to welcome i2 to Snowhill. We are encouraged by the level of interest being expressed in the remaining 100,000 sq ft of available office space and are currently in dialogue with a number of interested parties. We look forward to announcing further lettings soon.”
Philip Grace, i2 Chief Executive, said: “Following the tremendous success of our Brindleyplace business centre, we’re very excited to be opening a second centre in another iconic location in Birmingham. I’m sure there will be strong demand from businesses of all shapes and sizes to take advantage of this opportunity to call Two Snowhill home.”
With Two Snowhill being the only new building actually completed in Birmingham’s City Centre Enterprise Zone – businesses relocating to the building have the added incentive of the Zone’s business rate relief scheme in their first five years of occupation.
In the UK, Hines has advised on over two million square feet of projects acquired, completed or in the pipeline, with a total value in excess of £1billion. The company’s growing London portfolio of assets under management includes city offices Cannon Place and One Bartholomew Lane; Dockland’s Broadgate West and One Westferry Circus, and Midtown’s 280 High Holborn and Stonecutter Court.
Ballymore commenced development of the Snowhill scheme in 2007 with the first two buildings now completed. Lettings to date include KPMG, Barclays and DWF in Building 1 and Wragge & Co and i2 in Building 2. When complete the scheme will comprise over 800,000 sq ft of office development – creating a brand new Business quarter of London quality offices at the Gateway to Birmingham city centre.
GBR Phoenix Beard and CBRE acted for Hines, i2 Offices represented themselves.