1 Victoria Square & Swallow House, Birmingham, B1 1DB
These two interconnected office properties are situated in the heart of Birmingham City Centre on the south west corner of Victoria Square, some 200 metres from New Street Station.
Totalling some 10,960 sqm (118,000 sqft) of office and A3 accommodation. The property comprises two modern interconnected office properties and a ground floor restaurant. Tenants include Regus and The Lloyds Banking Group. In addition there is ample onsite car parking.
The property is strategically placed in very close proximity to New Street Station, which is itself to undergo a major redevelopment whereby its principle entrance will change to direct pedestrian flow into Central Birmingham via Hill Street and therefore directly pass the Fund’s holding. In addition, One Victoria Square is predominantly let off of a very low rental base for high quality offices in this location, thus potentially allowing for rental growth.
The Fund has recently completed the refurbishment of the 9th floor (6,600 ft2 of high specification city centre accommodation and is being marketed by DTZ and GBR Phoenix Beard's Birmingham offices), common parts and reception area. The Fund will look to continue to improve the asset’s appeal to the wider Birmingham office market through a proactive management approach.
The Fund has just commenced the refurbishment of the common areas and reception of the adjoining Swallow House. The Fund is currently marketing three suites in this property through agents DTZ and KWB.