Some 50,000 sq ft of Grade A office space has been brought to the market in Birmingham city centre following the £9m transformation of 1 Newhall Street.
Prominently located on the intersection of Colmore Row and Newhall Street, the building – formerly known as Phoenix House – has undergone an extensive refurbishment that has seen it stripped back to its frame and now offering prime office space in the heart of the city’s central business district.
The works include a brand new fully glazed façade fronting Newhall Street as well a full refurbished and enlarged reception. The reconfigured extended 6,400 sq ft office floor plates benefit from full height glazing providing an abundance of natural light. A timber clad roof terrace provides an executive suite on the top floor with spectacular views across the city.
At a quoting rent of £25 per sq ft the building offers affordable Grade A office space at the centre of the city’s business hub.
Michael Cecil, Ardstone Capital said: “No stone has been left unturned in the transformation of a tired office building into high quality office space that we feel is befitting of its location. Not only have we changed the building aesthetically we have also made significant structural alterations throughout, including an extension to provide continuous floorplates.”
The building was acquired by The Ardstone Regional Office Fund, a programmatic venture funded by clients of CBRE Global Investment Partners (CBRE GIP) in 2014.
Situated within the city’s Colmore Business District, 1 Newhall Street is just five minutes from New Street and Snow Hill rail stations, and the associated Midland Metro stops. It also offers 22 car parking spaces, 20 bicycle and 5 motorcycle spaces in the secure basement, accessed from Barwick Street. The refurbishment has also added full changing, shower and drying facilities.
Joint agents Jonathan Carmalt, Director at JLL and George Jennings, Director at GVA, believe that 1 Newhall Street is delivering the optimum office space for the current Birmingham office market: “The extensive transformation of 1 Newhall Street offers top quality, bright and innovative office space that’s in a size range catering for occupiers seeking to accommodate around 28-65 staff on a single floor. This differentiates the building from other recent building refurbishments that lean towards larger requirements, and appeals to both the traditional professional service sector and the burgeoning tech occupier sector.
“Ready for immediate occupation, the comprehensive refurbishment of the building also ensures that occupier office fit out periods will be minimised with floorboxes and buzz bars already in place – providing the potential for the most streamlined building occupation process in the city.”
A 4,850 sq ft leisure unit fronting Newhall Street is also available, bringing life and activity to the ground floor.
As a result of the works, the building will secure an EPC ‘B’ rating.