The refurbishment of office accommodation at F&C REIT’s Grade A Bank House is continuing to attract occupiers as availability of high quality stock in Birmingham continues to diminish.
Existing building occupier, Catalyst Corporate Finance has secured the full 16th floor, totalling 4,671 sq ft and will be transferring its operation from its current office on the 9th floor. The letting has been secured on a 10 year term, with quoting rents at Bank House of £25 per sq ft.
Bank House was acquired in 2010 by F&C REIT, which is undertaking an extensive rolling refurbishment of all internal space to Grade A standard, including the new double-height glass façade wrapping around the ground floor reception on two elevations.
Daniel Plummer, Head of Regional Offices, F&C REIT, said: “The programme of speculative refurbishment undertaken at Bank House following our purchase of the building has been vital in ensuring that it was best placed to take full advantage of the resurgent economy.
“We have always viewed Bank House as having the potential to be seen as one of the city’s most strategically positioned and desirable Grade A office locations, a view which is currently underscored by the lack of good quality stock in the market and reinforced through the completion of this letting to a tenant keen to secure newly refurbished high-specification space.”
A fixture on the Birmingham skyline for almost 50 years, Bank House represents some of the best office space in Birmingham through its combination of high quality accommodation, location within the Central Business District (CBD) and proximity to Birmingham’s main transport links.
Large windows provide sweeping panoramic views across the city and an abundance of natural light to the building’s 4,700 sq ft floorplates, each of which can be easily sub-divided into individual office suites from 1,100 sq ft.
An award-winning international corporate finance adviser, Catalyst Corporate Finance focuses on UK and international deals across a wide range of sectors. The firm is recognised as one of the leading advisers in the Midlands having recently won Corporate Finance Team of the Year and partner Richard Sanders being named as Dealmaker of the Year at the recent Insider Dealmakers Awards.
Being centrally located is vital for the continued development of the business. Richard Sanders, Catalyst Corporate Finance, said: “Bank House has offered us the perfect city centre location and while we looked at alternatives, we were convinced that the refurbished space on the upper floors was perfect for our needs.”
Bank House is jointly let by agents DTZ and GBR Phoenix Beard.
David Tonks, Senior Director, DTZ, said: “The recent programme of refurbishment at Bank House has ensured the provision of exceedingly desirable Grade A office accommodation in an outstanding location, as has been illustrated by the continued interest that we have received in the building.
“With a current undersupply of good quality commercial space in the city – particularly following HS2’s decision to locate its offices to Birmingham – it is now more important than ever for occupiers seeking high quality, highly accessible office accommodation to move quickly in order to secure the right location.”
Situated on Cherry Street in the heart of Birmingham City, Bank House is less than five minutes’ walk from New Street and Snow Hill railway stations, offering mainline connections to locations across the UK.
Bank House has become synonymous with Birmingham’s professional services sector and boasts an impressive list of occupiers, including Bank of Tokyo, GE Commercial Finance, Nationwide Building Society, Gerald Eve, St Philips Chambers, Shepherd Developments, Catalyst Corporate Finance and Barclays.