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News Release

Birmingham

Cheltenham House Fills Up


Birmingham, 8 December 2014 - Circle Property Unit Trust’s £1.2m investment in Cheltenham House, Temple Street, Birmingham, has paid off with a string of lettings.

The Jersey-based Trust acquired the 16,328 sq ft building in 2013.

The period building has undergone a comprehensive overhaul, including a new lift, reception area and communal facilities for tenants, plus the installation of new lighting, trunking and cabling to each of its 24 suites. The external façade has also been cleaned and restored. The premises comprises 7,364 sq ft of office space, over three floors, and a ground floor leisure unit of 5,780 sq ft.

Incumbent tenant, solicitors Broomhall & Co, remained in situ during the works, and occupy 526 sq ft on the third floor.

They have been joined by Birmingham Law Society (549 sq ft), weight loss consultants Lighter Life (558 sq ft), photographers Alex Mae Studios (1,526 sq ft), promotions and retail agency Engaging Faces (247 sq ft), property investor and developer Antringham Estates (258 sq ft) and PR consultants Headline Communications (258 sq ft). A further two units are under offer.

Elizabeth Dziergas, office manager at Birmingham Law Society, said: “Cheltenham House won us over from our very first viewing. The high quality refurbishment, combined with the building’s period character, singled it out, along with the flexible letting terms.”

Just over 3,000 sq ft of office accommodation remains to let, with rents from £18 per sq ft per annum. Units from 129 sq ft – 700 sq ft are available, on flexible lease agreements.

JLL and KWB are joint letting agents at the development.

Vicki Burnett, JLL, said: “There is very little premium space available in the city centre in the sub 1,000 sq ft category. As a result, we have seen a high level of interest and take-up at Cheltenham House since the building was launched earlier in the year.”

Mark Robinson from KWB added: “To have been working with Circle on this project from the date of their purchase it is particularly satisfying to now see the building achieve the success that it deserves.”

The ground floor unit is let to The Botanist, an award-winning boutique pub chain which specialises in cocktails and craft beers, and is currently being fitted out.