An office building in Birmingham city centre is set to receive a £2.5m overhaul, in order to meet growing demand for smaller floorplates.
Occupying the corner plot of Temple Row and Bull Street on the route of the Midland Metro extension, No. 4 Temple Row is receiving major investment for refurbishment from Nurton Developments through its joint venture, WINDL offices.
The refurbishment is set to be completed in Autumn 2016 and bring with it nearly 24,000 sq ft of space. The developer is targeting Birmingham’s financial and professional services community as potential occupiers.
Nurton’s aim is to take advantage of the lack of short-term availability of quality office space in the city centre. There has already been interest from a number of firms.
Development Director at Nurton, Rupert Young, commented: “Whilst there are a number of large-scale schemes in the medium to long-term pipeline the supply of high quality space currently available is dwindling.
“More schemes need to be geared towards the 2,500-5,000 sq ft occupier where a shortfall is looming.”
CBRE Birmingham’s office agency is joint agent on No. 4 Temple Row with JLL. The firm’s director, Theo Holmes, has said that the 3,000 to 5,000 sq ft is looking like a hot spot in the market.
He adds: “The extent of the refurbishment and the re-brand will see the building effectively re-invented and the dual aspect over Temple Row and Bull Street with its new Metro stop adds to a very attractive proposition.”
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