The Turkish Embassy has chosen Birmingham for its first trade commission outside London.
The organisation has opened an office at 11 Waterloo Street, as a base for new chief commercial counsellor Tankut Aydin, who will be responsible for facilitating trade between Turkey and the Midlands.
The Embassy currently has four trade commissioners, three in London and one in Birmingham. A fifth is planned for a new office in Scotland.
Mr Aydin, who has taken up the post following stints in Hong Kong and Northern Cyprus, said: “It’s great to have a presence in the UK’s largest city outside London, and our doors are open for business. We believe there are real opportunities here.
“Bilateral trade between Turkey and the UK is currently worth around £10bn per annum. Furthermore, in terms of Turkey’s total exports the UK ranks second, with a 6.5 per cent share, while Turkey ranks 19th in the UK’s total imports, with a 1.35 per cent share. Prime minister David Cameron has also pledged to double trade with Turkey over the next five years.”
The Turkish Embassy has taken 810 sq ft on a five-year lease at Nurton Developments’ 11 Waterloo Street. Rental is £18 per sq ft. The premises includes office and meeting room space.
The Birmingham office of Colliers International brokered the deal for the tenant. Emel Ahmet, a Turkish Cypriot from the firm’s retail team, and colleague Alex Tross, from the office agency team, advised the Embassy.
The OECD tips Turkey to be the fastest-growing economy after China and India by 2015. It is one of the world’s largest markets, with a population of 73million, of which 60 per cent is under the age of 35.
More than 2,000 UK companies are currently doing business in Turkey, including Vodafone, Tesco, Marks & Spencer and Rolls Royce.
Ms Ahmet said: “The opening up of the Turkish trade commission is a real coup for Birmingham and the region. Not only does the deal strengthen trade links between Turkey and the Midlands, it demonstrates Colliers’ truly international capabilities.”
Mr Tross added: “We’re pleased that we were able to facilitate the Turkish Embassy in finding a suitable location for its first trade commission outside London. By utilising Emel’s Turkish Cypriot background, coupled with my knowledge of the office market, we were able to provide a seamless service.”
Theo Holmes of CBRE acted for Nurton. He said: “This is a great win for Birmingham and the city’s traditional office core.
“11 Waterloo St’s quality specification and central location, just meters from Birmingham’s most exclusive business address, Colmore Row, was a winning combination. As a result, there is now only one 1,026 sq ft suite left in the building.”