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| 07/12/2007 BIGGEST OFFICE DEAL OF THE YEAR AT CANNON HOUSE |
| Nurton Developments has just announced
the completion of the biggest office deal in central Birmingham this year
- the letting of 42,000 sq ft of Grade A space, at the £25m refurbished
Cannon House, Colmore Circus Queensway to a major government agency.
The Insolvency Service, part of the Department for Business Enterprise and Regulatory Reform (BERR), has taken Levels 3 and 4 of the refurbished building, plus 21 car parking spaces. It will utilise the new premises as its flagship Midlands headquarters, when it relocates from nearby Ladywood House, in Stephenson Street in spring 2008. Nurton's decision to commit to the extensive level of refurbishment last year was a prime factor in securing the letting, says Ashley Hancox of letting agent GSD. |
 Jon Carmalt (King Sturge) David Bradshaw (Nurton Developments) Ashley Hancox (GSD) & Charles Toogood (GVA Grimley) |
| "The Insolvency Service has been considering moving to new premises
in central Birmingham and beyond for a long time and when they first visited
an unrefurbished Cannon House about three years ago, they felt it wasn't
suitable for their requirements.
"However, they returned after the work had finished and were suitably impressed by the complete transformation. Nurton and the design team's strategy to create a building with a high specification and a new façade, which has a strong visual impact on the City's business district has really paid off." Jon Carmalt, office agency partner at King Sturge, who acted on behalf of the Insolvency Service in the acquisition said: "Our search considered a wide range of office opportunities in the Central Birmingham Office Market. Our selection process carefully examined a number of factors that were identified as being highly important to the Insolvency Service. Following this process, Cannon House emerged as the clear choice for our client. Not only is it in a fantastic location for proximity to public transport, staff amenities and the courts, it is able to offer large efficient floor plates, in a building which will have a low environmental impact, and is excellent value for money for accommodation of this quality." |
 Jon Carmalt (King Sturge) & David Bradshaw (Nurton Developments) |
| David Bradshaw, managing director at Nurton added: "We are delighted
that our scheme has enabled the Insolvency Service to commit their longer
term future to Birmingham. We are very aware of the requirements of occupiers
in Birmingham and have worked very closely with Birmingham City Council
to ensure that Cannon House is a striking and viable option that provides
the office market with the accommodation they are looking for, both in
terms of workability and a visually stunning, landmark building."
Ken Horan, Head of Property, Services and Procurement with the Insolvency Service, said: "We are very excited about establishing Cannon House as the centre of our new Birmingham operations, because the city is going through incredible change and investment. "This project is an important opportunity to underpin our transition to new ways of working, enabling increased business performance, while optimising the use and value we achieve from our estate. Cannon House has provided us with an ideal platform to achieve this, as well as put us in the centre of the business community we serve. "We have been working very closely with the Landlord, trusted partners and other stakeholders to ensure we develop a modern, flexible and sustainable environment from which we can successfully deliver our services well into the next decade. We still have a lot of work to do until completion early next year, but I'm very pleased with the direction we are taking and the progress being made." Cannon House was relaunched to the office market at the beginning of 2007, after a multi-million pound makeover and comprehensive refurbishment. The remaining availability includes 8,934 sq ft on Level 1, 10,226 sq ft on Level 2, and 12,325sq ft on Level 5. Meanwhile, Nurton has been given the go-ahead for the second, and final, phase of the £25m redevelopment of Cannon & Priory, with futuristic plans earmarked for Priory House. Work begins in January with the first space available by January 2009. The design includes 40,000 sq ft of penthouse office suites on a new Level 7 floor, which will run across the top of both the Cannon and Priory properties. Cannon & Priory have a combined floorplate of around 45,000 sq ft - the largest commercial footprints in Birmingham City Centre. Cannon provides 73,500 sq ft of office accommodation. |
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