Avison Young completed the deal to the construction and property consultancy
Midlands — Birmingham’s 1 Newhall Street has welcomed independent multi-disciplinary construction and property consultancy, Robinson Low Francis (RLF) as the latest tenant.
Avison Young completed the letting to RLF for 3,500 sq ft of Grade A space, representing the front half of the building’s 7th floor, on a 10 year lease. RLF, which is relocating from its previous office at 54 Hagley Road in Edgbaston, has recently completed the fit-out of its space and is in occupancy.
Following its acquisition by Ardstone Capital, 1 Newhall Street has undergone a comprehensive refurbishment programme. The building now offers reconfigured and extended floorplates providing 50,000 sq ft of Grade A space over eight floors, all set behind a fully glazed façade with quoting rents at £25 per sq ft.
Michael Cecil, Ardstone Capital, said: “We are delighted to welcome RLF to 1 Newhall Street. Our strategy is to provide high quality space within the city core, available at a competitive price point and we are looking forward to working with RLF into the future to ensure that we can continue to meet their requirements.”
RLF, which was formed in 1888, offers a range of construction and property related consultancy services to both public and private sector clients.
David Harris, office managing partner of RLF in Birmingham, said: “We have occupied space at 54 Hagley Road for a decade, and been based in the Edgbaston area for over 60 years. The move into Birmingham city centre represents a major step change for us, so finding exactly the right accommodation was of vital importance. 1 Newhall Street provides us with everything that we need by way of location, quality of space and access to the rest of the city.”
BNP Paribas represented RLF in completion of the deal, with Avison Young acting as letting agent for Ardstone Capital.
George Jennings, Avison Young, said: “1 Newhall Street occupies a prime position within the city’s burgeoning business district, on the corner of Newhall Street and Colmore Row. This places occupiers at the centre of the city’s professional services community and the city’s expanding range of high quality bars and restaurants, creating a perfect combination.
“Unquestionably, 1 Newhall Street is a phenomenal case study for the city in terms of how to enhance and upgrade an existing workspace. Birmingham’s city centre office market continues to be a highly competitive environment and securing a company with the legacy and reputation of RLF is a significant vote of confidence.”
The completion of the deal leaves a selection of suites ranging from 2,800 sq ft to 3,500 sq ft on the first to sixth floors. The building is also home to Godwin Developments, which occupies the building’s eight floor.
The building also features a 4,850 sq ft leisure unit fronting Newhall Street which has been let to Pret A Manger.
Situated within the city’s Colmore Business District, 1 Newhall Street is just five minutes from New Street and Snow Hill rail stations, and the associated West Midland Metro stops. It also offers 22 car parking spaces, 20 bicycle and 5 motorcycle spaces in the secure basement, accessed from Barwick Street. The refurbishment has also added full changing, shower and drying facilities.
1 Newhall Street was acquired in 2014 by Ardstone Capital on behalf of the Ardstone Regional Office Fund, a programmatic venture funded by clients of CBRE Global Investment Partners (CBRE GIP).