Work will start next month on the refurbishment of an office building close to Birmingham’s business district. The eight-storey Temple Street block has been empty for more than six years.
The 40-week facelift will cost £4m and bring the 38,000 sq ft of office space within the Freshwater Group owned 10 Temple Street up to Grade A standard. All the upper floors have remained vacant since AXA Insurance moved out in 2009, with the electronics retailer Maplin trading from a ground floor retail unit on a long lease.
In line with the city’s 2010 Retail Design Strategy, Temple Street has become a hub for independent retailers and bars. It is also one of Birmingham’s busiest pedestrian commuter links between New Street station and the Colmore Business District.
“This will not be your standard new build office building and is all the better for it,” said Jonathan Carmalt, a director at joint letting agents JLL.
“It’s slightly offbeat location, one street removed from the Colmore Business District, sets it apart from the traditional office offering, so occupiers will essentially benefit from a Grade A office specification without having to pay prime rents.”
Underpinning Birmingham’s determination to end its love affair with the car, 10 Temple Street — which will be re-faced front and back as part of the renovation — will not offer a car park. The building will, instead, provide an abundance of secure cycle spaces as well as hotel standard changing facilities, showers and lockers.
Midlands office consultancy KWB will also be handling the property. “With the city centre undergoing a renaissance due to the imminent completion of New Street Station and the extension of Birmingham Metro, combined with the lack of high quality commercial stock in the city, this is the perfect time for Freshwater Group to bring 10 Temple Street to the market,” said agency spokesman, John Bryce.
“Recycling an outdated building is becoming an increasingly popular option for developers looking to take a sustainable route in updating their portfolios and updating stock to modern standards will ensure that this development will attract the full complement of professional service clients, be it on a floor by floor basis or as a total building let,” he added.