Work has begun on the £30m redevelopment of Birmingham’s landmark 55 Colmore Row by award winning property developer, IM Properites…

The building will provide the largest and most prominent level of high quality office accommodation in the city centre once work is completed in autumn 2016.

John Hammond, Investment Director of IM Properties, said their aim was to create an entirely unique proposition within the Birmingham property market.

“55 Colmore Row has a significant heritage that sets it apart from other office buildings in the area.
“The reintroduction of the banking hall as a key element of the building will create a striking and entirely unique feature,” said John.

John added that there had never been a better time to invest in Birmingham as it had completed three significant deals totalling over 450,000 sq ft of space in the last three years.

“This reputation and the city’s stock on the national stage will continue to grow through the delivery of large-scale infrastructure projects such as the extension to the Midland Metro, ongoing improvements to the civic areas, delivery of the refurbished New Street Station and anticipation of HS2,” added John.

“55 Colmore Row will deliver the right space at the right time and we are all very excited to see the end product complete next year.”

CBRE and Savills have been appointed joint agents for the project and Will Ventham of CBRE, said the letting strategy for 55 Colmore Row was about more than the national and local occupiers.

“We want to target the large international companies considering relocation to the UK, particularly as the South East market continues to overheat.

“55 Colmore Row is a significantly different offer to anything else that will be coming to the market in the foreseeable future,” added Will.

Nick Williams of Savills added that Birmingham was facing a fundamental shortage of high quality office space over the next few years.

“While developers are now starting to bring forward new opportunities, 55 Colmore Row is an entirely unique proposition,” said Nick.

“The Big City Plan has been driving Birmingham’s vision for growth and now in conjunction with the Snow Hill Masterplan we are looking at a future for Birmingham that is ready-made for high quality business occupiers.”