The joint developers are working together to deliver a high quality business hub at Trinity Point, Halesowen.
Around 30,000 sq ft of office space is being refurbished, along with upgraded toilets and communal areas, a new roof, and a replacement lift for the west wing.
Some 20,000 sq ft of self-contained office suites are available for rent.
Citibase has agreed to lease 10,000 sq ft providing space for SMEs and start-ups seeking flexible accommodation.
Contractor Homebrook has started work onsite.
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The 12-week project is expected to reach practical completion in October.
Kevin Sharkey, CEO at Key Land Capital, said: “It’s exciting to see work start on transforming Trinity Point with a comprehensive programme of refurbishment.
“The existing office space is being stripped out and brought up to modern standards with new mechanical and electrical systems, LED lighting, complete redecoration, new carpets and upgraded toilets.
“The arrival of Citibase is a major boost to small businesses and start-ups across the region, who will have access to a very high quality, flexible office hub, without the need to travel into Birmingham city centre.”
Key Land Capital and Urban Village Capital are Birmingham-based investment and development businesses with multi-million-pound portfolios of developments across the UK.
Trinity Point has benefited from an ongoing, rolling refurbishment programme since it was acquired by Key Land Capital in 2018.