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News Release

Birmingham

Disused Birmingham office block to undergo £4m facelift

Investment into Temple Street refurbishment


Birmingham,  23rd April 2015 - Having stood empty for the last six years, an eight storey office building on Birmingham’s buzzing Temple Street is to undergo a £4million refurbishment to bring forward new Grade A office stock to the city market.

JLL and KWB have been appointed as joint agents and Shaylor Group are expected to start the 40 week construction process in May, in order to complete the renovation of the 38,000sq ft building by February 2016.

10 Temple Street is owned by the Freshwater Group and has been vacant since AXA Insurance moved out in 2009, save for Maplin, the electronics retailer who hold a long term lease on the ground floor retail space. 

As the bridge between retail and commercial districts, Temple Street itself is one of the city’s busiest pedestrian commuter links linking New Street station and the Colmore Business District and was targeted as a key secondary link in the city’s Retail Design Strategy, unveiled in 2010. This blueprint has slowly inspired a renaissance for the street which has become a hub for independent retailers and bars, as well as housing renowned big name solicitors including Shakespeares and Irwin Mitchell.

Directly addressing the need for buildings to be sustainable and adaptable, the developer has opted to refurbish and regenerate the existing building stock, whilst incorporating new front and rear elevations to the building with a remodelled reception and targeting an EPC rating of B through improving the building fabric and installing modern M&E.

Jonathan Carmalt, Director at JLL said: “This won’t be your standard new build office building and is all the better for it. 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. Temple Street is one of the busiest pedestrian routes in the city, linking New Street station with the CBD and as such is coming alive in this latest property cycle with independent shops and café bars, it will be a great location for employees.”

John Bryce at KWB said: “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.  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.

In the starkest indication yet that Birmingham is ending its love affair with the car, 10 Temple Street will not offer a car park. Instead the building will provide an abundance of secure cycle spaces as well as unrivalled changing facilities, showers and lockers worthy of a modern hotel.

Basement and enabling works are expected to commence in mid-May. Maplin will remain trading through-out.