Barclays/HSBC put brakes on Brum office hunt

Barclays Bank and HSBC have put the brakes on their regional requirements as they take stock of the turbulence in the financial markets.   Barclays has a 100,000 sq ft office requirement in Birmingham city centre. It favours Ballymore’s No 1 Snow Hill mixed-use scheme but it is currently weighing up a number of options.   Jan Thompson, head of Jones Lang LaSalle’s Birmingham office, which is advising Barclays, said: “Nothing has been shelved at this time and various options are still being considered.”   Meanwhile, HSBC has put on the back-burner plans to take a 400,000 sq ft headquarters at Miller Developments and Bridgehouse Capital’s 2m sq ft Arena Central mixed-use scheme in Birmingham.   A source said: “Yes the deal is going slower than expected but the requirement has not officially been put on hold.”   Two bespoke office blocks are being developed for HSBC’s proposed consolidation of its West Midlands operation.   Ken Shuttleworth’s Make is designing the offices for the prelet, the largest in the city.   lisa.pilkington@rbi.co.uk