Birmingham Refurbished Space Famine Eases
The £1.2M refurbishment of Birmingham's One Colmore Row has been completed, as the city's refurbished space market heats up.
The 44K SF block, asset managed by Catella APAM, has a new glazed entrance lobby and enlarged reception space, with touchdown workspace, grab-and-go coffee offer and informal meeting areas. New showers, changing facilities and secure bicycle storage have been added in the basement, ensuring the occupiers now have a wellbeing offer within the building.
The vacant sixth floor office has been refitted to reveal exposed ductwork and suspended LED light fittings.
Catella APAM has appointed property consultancies Knight Frank and Cushman & Wakefield as joint agents at One Colmore Row.
The central Birmingham office market has endured a shortage of good refurbished floorspace for most of the last three years. The crisis is growing acute as take-up climbs.
The Birmingham Office Market Forum reported that office take-up totalled 105K SF in the final quarter of 2019, completing an annual total of 780K SF. The 2019 outcome exceeded both the 2018 total and the 10-year average take-up in central Birmingham, and demonstrated a steady finish to the year.
"Office enquiries remain encouraging moving into 2020. With low levels of grade-A supply, the delivery of the next generation of new-build developments will be well received,” Forum Chairman Jonathan Carmalt said.
