Leading real estate adviser, GVA has secured a letting to creative agency Spoke at Birmingham’s 50 Newhall Street.
The company has committed to 430 sq ft on the building’s third floor on flexible terms. Quoting rents are from £25 per sq ft.
The letting to Spoke is the latest in a string of transactions secured at the building since it and neighbouring 52 Newhall Street were acquired in 2015 by serviced office specialists Peter Maddox & Associates.
The Grade II listed buildings, which are situated on one of the key arterial routes to Birmingham city centre, have recently undergone a substantial refurbishment which has created a range of modern workspaces while preserving many of the original features.
George Jennings, Director at GVA, said: “There is a lot of demand in the city at the moment for accommodation under 1,000 sq ft, with significant interest in high quality stock that provides smaller suites such as these. This is particularly the case from young professional service firms and creative businesses looking for a city centre address and good quality workspace.
“Rather than featureless incubator-style spaces, we’re seeing a lot of smaller businesses and start-ups looking for offices that have retained character period features. Peter Maddox & Associates’ approach of offering flexible terms is particularly appealing as this gives occupiers greater freedom.”
There are now only two suites of 164 sq ft and 274 sq ft remaining vacant at 50 Newhall Street, which offers a series of cellular offices and is home to occupiers including Harper Jones Solicitors, Elizabeth School of London, Yanty and Umberto Giannini.
Next door, 52 Newhall Street offers a self-contained opportunity or as a multi-tenanted building with a courtyard to the rear and 2,430 sq ft of space available.
Refurbished to the same high standard, both buildings feature light and airy office suites, enhanced common areas, swipe card access, secure bike storage and shower rooms..
Richard Maddox, Peter Maddox & Associates, said: “We’re very pleased to welcome Spoke to 50 Newhall Street. We’ve been bowled over with the level of interest received and deals completed. Having modern offices combined with period features is a winning formula and we’re delighted with the outcome.
“We’ve welcomed a really diverse array of tenants since we brought these buildings to the market and we’re now looking for tenants for 52 Newhall Street, we certainly don’t expect the space to hang around for long!”