The new owners of a prime city centre office development in Birmingham are poised to begin a refurbishment of the premises, national property consultancy Lambert Smith Hampton (LSH) has announced.
Cornvalley, the property company that acquired 126 Colmore Row in August, is investing significant capital in upgrading the office accommodation and common parts as it seeks to take advantage of continued occupier demand and a dearth of good quality product in the market.
The refurbishment should attract more businesses to this prime location, said Richard Durkin, director at LSH Birmingham, who acquired the property on behalf of his client.
LSH’s building surveying team has now been instructed to lead the refurbishment, which will see office suites of around 400 sq. ft. to 1,100 sq. ft. coming to the market by the beginning of 2017. LSH’s office agency team will also market the building, while the property management team has been appointed to manage the building on behalf of the client.
“The property at 126 Colmore Row is in a prime location in the heart of the city centre and the opportunity to refurbish the offices will deliver very high quality space,” said Richard.
“There is a real need for high quality offices of this size in the city centre as small businesses look to expand or relocate to a central site. We are offering a full service to our client – from acquisition through refurbishment to management – which demonstrates the scope of work we deliver.”
“We expect that interest for these suites will be very high indeed once we begin marketing them and bring the newly designed accommodation to market.”
The building, which dates to 1929, was designed by Samuel Nathaniel Cooke, the Birmingham architect behind the Hall of Memory in Centenary Square and the original Repertory Theatre.