With large amounts of commercial property across the UK lying empty as a result of the current worldwide economic conditions, developers are being forced to go that extra yard when converting commercial property.
Rather than redeveloping average commercial property buildings, developers are now looking for properties with an ‘X factor’, something which will set premises apart from other commercial property developments.
It is perhaps with this in mind that the Birmingham Properties
Group (BPG) decided to invest in the development of one the city’s most iconic music venues. BPG have now completed the restoration of Edwards No 8, into 25,000 sq ft of office space.
The building was severely damaged back in 2006, when a fire ripped through the premises, resulting in the evacuation of over 500 clubbers, of which 10 suffered minor injuries. The venue was opened in the 1970s and over the years has played host to many famous rock bands, including Nirvana, Smashing Pumpkins and recent Christmas number 1 band, Rage Against The Machine.
The property has now been fully redeveloped, into uber modern open plan office space, at a cost of £3 million. John Tebbutt, managing director of Birmingham Properties Group, said: ‘This is a beautiful stone terracotta and brick building which we have carefully restored over the past 18 months…It now offers potential as an office HQ building in a fantastic location that is very close to the New Street Station extension, the new John Lewis store and the Mailbox…This is a very rare opportunity to purchase a building of this quality which is located in the heart of the city core.’
BPG, hope the buildings colorful history will help in creating a lot of interest in the premises. John Griffiths, of GBR Phoenix Beard, the agent responsible for marketing the property said: ‘There has been a noticeable increase in inquiries since work at the station really became visible. …This property now presents an incredible opportunity in terms of value and location.’
