Work is well underway on the dramatic multi-million pound refurbishment of a prime office building on one of Birmingham’s central business district’s best known roads.
Contractors have stripped back the former Phoenix House on Newhall Street to its frame in readiness to reclad and extend the floorplates to deliver prime, Grade A office space, targeting the booming financial and professional services sector in Birmingham.
Works to the nine storey building are being undertaken by the Ardstone UK Regional Office Fund, which is funded by clients of CBRE GIP. It is to be renamed 1 Newhall Street and will deliver enhanced medium sized floorplates to suit the professional occupier.
Head of Asset Management at Ardstone Capital, Michael Cecil, said: “We are extending the building to provide continuous floorplates of just over 6,000 sq ft. The new glass façade will provide an abundance of natural light. The offices will also have all the latest facilities and amenities associated with Grade A offices including new M&E, lifts, and cooling and heating systems.’
Michael adds “Our focus has always been on delivering a building befitting its prime location.”
The extensive refurbishment of the 50,000 sq ft building will also include a vibrant reception fronting onto Newhall Street and a reconfigured retail unit. The Landlord has entered into an Agreement for Lease with the popular Yorks Bakery Café who will be returning to the building following Practical Completion of the building in December.
Ardstone Capital has appointed Colliers International and JLL as joint letting agents for the building.
Jonathan Carmalt, Director at JLL, said: “With such a comprehensive overhaul of the building, Phoenix House will be unrecognisable. It is in a superb location and is a further example of the regeneration of Newhall Street and the ongoing redevelopment in the Colmore Business District.”
Matt Long, Director at Colliers said: “The Landlord has left no stone unturned on the design and specification and as a result it will have the feel of a brand new building. Furthermore the building is targeting an EPC rating of B, and therefore will provide efficient office accommodation at a time when sustainability is rising up the agendas of occupiers.”
1 Newhall Street will also provide secure car parking and cycle storage, showers and changing facilities