HQ is poised to join the competition between serviced office operators in Birmingham by taking space at Victoria Square House for its first operation in the city.
The news that HQ has put the fourth floor of MEPC’s 13,470 sq m (145,000 sq ft) building under offer will come as a blow to solicitor Dibb Lupton Alsop which had considered expanding into the space. DLA has some 3,716 sq m (40,000 sq ft) at the building in solicitors’ hands and is believed to be close to completing the deal, subject to partnership approval.
There is already competition between serviced office operators in the city. Regus has two operations in central Birmingham – at Cornwall Court in the traditional office core of the city and one of some 1,579 sq m (17,000 sq ft) at No 3 Brindleyplace. Marylebone Warwick Balfour is taking the 1,393 sq m (15,000 sq ft) office block at 43 Temple Row to open its first facility in Birmingham.
If both Victoria Square House deals complete, no further space will be available there until Lloyds TSB moves out of its accommodation to occupy a new headquarters at 125 Colmore Row which should be ready for occupation in Spring 2000.
Lloyds TSB occupies some 6,500 sq m (70,000 sq ft) in its former building which it sold to MEPC as part of a landmark deal in Birmingham last year. MEPC is redeveloping the HQ building on Colmore Row for the bank.
Chesterton is advising Lloyds TSB. Richard Ellis is advising MEPC. FPDSavills is advising Dibb Lupton Alsop.
EGi News 18/11/98
Do you have a comment about this story? Send a note to the editor
