DLA Piper has extended its lease at Victoria Square House which is in line for a major refurbishment.
The law firm is the largest tenant in the city centre building - occupying 54,000 sqft across two floors - and the new lease will keep the company based in the building for a further ten years.
Mark Beardmore, office managing partner at DLA Piper’s Birmingham office believes that extending its lease in Victoria Square House gives the firm great foundations for the future.
Mr Beardmore said: “This is a prime location for a professional services firm, being right in the heart of the city with great transport links very close by. Securing a new ten year lease has allowed us to plan for the future and maximise the benefits of working from this high-profile landmark building and the significant investment in the property being made by the owners.”
GVA has been appointed as joint letting agents with CBRE to market the 14,264 sq ft part first floor which will form part of the refurbishment programme.
This role builds on GVA’s appointment as managing agents for the property which was agreed in July last year.
George Jennings, associate at GVA, believes the activity at Victoria Square House is a very positive sign: “Such a large investment in the building, together with a restructured lease with its largest tenant, clearly illustrates on-going confidence in this landmark property and the considerable benefits of working from it.”
Rowena Crowley, property manager at building owners F&C REIT Ireland said: “Victoria Square House is a significant asset within our portfolio and we are fully committed to investing in its future through the planned refurbishment programme and by actively working with our existing and new tenants to ensure that it provides an efficient, contemporary working environment.
“Appointing GVA as letting agents will also help us streamline our approach as they already know so much about the property.”