Circle Property has let 36,300 sq ft at its recently completed Somerset House redevelopment on Birmingham’s Temple Street to serviced office provider BE Offices.
Following the deal for the entire six floors, the property is now 100% let and will generate a total rental income of £1,231,479 pa for the specialist regional UK property investment, development and management company.
Circle Property acquired Somerset House in 2016, carried out a refurbishment and converted the ground floor to two restaurants – Latin American restaurant chain, Las Iguanus, and Camerons Brewery’s The Head of Steam pub.
Circle Property chief executive John Arnold said: “At Somerset House we saw an opportunity to apply our asset management expertise to this very well located but under-invested and out-dated office property.
“Our strategy was to create a high-quality product, well placed to capitalise on tenant demand in Birmingham, while adding much needed leisure usage to Temple Street.”
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