A revitalised Birmingham office building is attracting attention from top flight city companies, according to the letting agents.
At a launch by the city’s top office agents, Ian Tudor, director of agents Bigwood who are jointly letting Cathedral Place with GBR, said the fourth floor was already under offer to a major institution.
Cathedral Place, 42-44 Waterloo Street, has just benefited from a £1.5 million refurbishment that opens up its top five floors for today’s business requirements. Caffè Nero opened a major 1,700 sq ft store in a ground floor suite in the autumn on a 15 year lease at a rental of £40 per sq ft.
Mr Tudor said the building had attracted inquiries from a number of international retailers and the office accommodation was likely to be highly sought after by tenants wanting a top drawer city centre address.
The refurbishment, carried out by Ibex Construction, has brought 11,500 sq ft on the five upper floors up to Grade A office standard. There has been early interest from the corporate and professional sectors in these offices which include boutique-type space for board meetings.
The building was acquired in 2007 by Real Estate Investors and Bigwood were appointed with joint agents GBR to market the revitalised property.
Mr Tudor said: “The former Birmingham Midshires offices are in the most desirable area of the city and represent a wonderful opportunity.
“The development brings Mayfair-style office accommodation to Birmingham.
“It’s comparable to anything available in London’s West End with the added bonus of spectacular views of St Philip’s Cathedral churchyard.
“With such high specification space on offer, we are anticipating strong demand from quality end users such as private banks and private equity firms, and we are prepared to let the building floor by floor in order to offer the most flexible package.”