Commercial property agent, GVA has been appointed, with CBRE, as joint letting agents for Victoria Square House by F&C REIT Ireland asset managers.
Victoria Square House is one of Birmingham’s most recognisable city centre office buildings with a chateau-style façade leading into a grand reception area and on to 160,000 sq ft of Grade A office space over 6 floors.
In July last year GVA was appointed as managing agents for the property so their recent appointment as joint letting agent means they will have a wider interest in the building.
Landlords, F&C REIT has recently restructured a lease with leading law firm, DLA Piper – the building’s largest tenant, part occupying four floors. The new lease will keep the company in the prestigious building for a further 10 years and will enable its employees to enjoy the results of a £500,000 refurbishment of the lobby, common areas and 1st floor suite being undertaken by F&C REIT.
Mark Beardmore, office managing partner at DLA Piper is delighted to be retaining their base in Victoria Square House; “This is a prime location for a professional services firm, being right in the heart of the city with great transport links very close by. Securing a new 10 year lease has allowed us to continue to work from a high-profile landmark building and benefit from the significant investment in the property being made by the owners.”
George Jennings, property consultant at GVA, believes the activity at Victoria Square House is a very positive sign; “Such a large investment in the building, together with a restructured lease with its largest tenant, clearly illustrates renewed confidence in this lovely old property and the considerable benefits of working from it.”
Rowena Crowley is property manager at F&C REIT Ireland; “We are delighted to have restructured the 10 year lease with our largest tenants. DLA Piper clearly recognises the value and advantages of having such a landmark building as their workplace. It also made good sense to appoint GVA as joint letting agents as they already know so much about the property.”
GVA will be working with F&C REIT Ireland asset managers on getting best value for the building’s occupiers and with joint letting agent CBRE to raise awareness of available space.