As developers begin to address the need for Grade A office space in Birmingham, property investment firm Ardstone Capital has revealed plans to renovate 1-3 Newhall Street in the city centre.
The plans involve extending the rear of the 12-storey building, known as Phoenix House, and adding a projection to create a new façade on Newhall Street. They also include a new entrance, ground floor retail space and basement parking.
In a statement Ardstone Capital said: “Phoenix House has the potential to provide attractive office space in a prime location but changes to the floor plate and presentation of the building are essential in order to achieve a sustainable future.
“As the city targets sustainable office development, it is necessary to adapt existing buildings to accommodate modern user needs.
“Phoenix House will provide a rejuvenated grade A office accommodation development in the heart of the business district within Birmingham city centre”.
Birmingham is increasingly seen as a desirable location for businesses with Deutsche Bank and HS2 among those either recently relocating or announcing plans to establish headquarters in the city.
This is creating demand for increased office stock, with key projects currently underway including Paradise, Arena Central and the planned demolition and replacement of the NatWest Tower.