Wealth management firm Tilney Smith & Williamson has signed up to a decade-long 12,000 sq ft prelet at Birmingham’s tallest upcoming office tower.
Tilney Smith & Williamson will move into the 14th floor at 103 Colmore Row, a scheme in Birmingham city centre by developer Sterling Property Ventures and investor Tristan Capital Partners.
Due for completion this autumn, 103 Colmore Row is 26 storeys high and contains 224,000 sq ft of grade-A office space. Around 31,500 sq ft of that was taken by flexible workspace provider x+why last month, with a management agreement across four floors at the building.
James Howarth, managing director of Sterling Property Ventures, said: “We’ve worked hard to create one of the most feature-rich office buildings in the Midlands.
“With many companies now considering moves to regional cities following the pandemic, 103 Colmore Row’s location at the very heart of Birmingham’s bustling business district has been attracting attention from several leading companies such as Tilney Smith & Williamson.”
The building features a winter garden and a 24th-floor sky bar and restaurant to be operated by D&D London, which will also run a ground-floor cocktail bar and café. The scheme also has a dedicated app and will be among the most energy-efficient office buildings outside London.
Developers say the service charge and energy costs will be the lowest in the Birmingham office market, fixed for 15 years, while it is also the first commercial building linked to the Birmingham District Energy Scheme, a part of Birmingham City Council’s climate change strategy, which aims to reduce CO2 emissions by 60% by 2027.
The letting comes as companies increasingly look to expand their regional presence in the wake of the coronavirus pandemic and the government’s so-called levelling-up agenda.
Earlier this year, Goldman Sachs became the latest big-name occupier to move a major part of its UK operations to Birmingham, taking an entire floor at WeWork’s space at 55 Colmore Row while it looks for a permanent base in the city for its technology team.
Adam Parker, managing director of Tilney Smith & Williamson’s Birmingham financial services team, said the new office “will allow us to keep pace with our ambitious regional expansion plans”.
Stephen Drew, professional services regional managing partner at Tilney Smith & Williamson in Birmingham, added: “Our professional services team has more than doubled in the past 12 months and, as our growth journey continues, we are delighted to be able to offer a contemporary and smart working environment for our clients and team.”
Paul Pritchard, director at Tristan Capital Partners, said: “It is exciting to see forward-thinking businesses confirming their plans for how they intend to operate in the future. High-quality and innovative workspaces are becoming a key requirement for high-knowledge businesses, and we are delighted to announce Tilney Smith & Williamson as the latest occupier to choose 103 Colmore Row as its new home.”
Office space at 103 Colmore Row is being marketed by joint agents Cushman & Wakefield, Colliers International and Knight Frank.
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