Birmingham Office Development to Expand
The office space element of the Arena Central development in Birmingham City Centre will be expanded, with a revised planning application granted and permission to increase the amount of office space on the site by 60%.
Part of a ┬ú400m mixed use development in Central Birmingham, the developers behind the scheme reportedly took the decision to expand the office space in response to the lack of large office enquiries currently being made that would be required for the scheme to progress.
With expanded floor-plates now due to be constructed on the 7.8 acre site, the joint venture between Miller Developments and Bridgehouse Capital will hope to secure the pre-lets to this part of the scheme.
In addition to the office space, the Broad Street facing scheme will also provide residential, leisure and retail units and seek to establish itself as a major landmark and commercial district with Birmingham City Centre. Details on the Miller website also reveal that hotels and some 2,500 car parking space are planned on the site.
At a time when commercial agents such as Savills are predicting diminishing supply levels in the UKΓÇÖs regional office markets, the decision to increase the Arena CentralΓÇÖs office space provision from 500,000 sq. ft. to 800,000 sq. ft. could place them in a strong position once the commercial office market recovers.
“The increased office capacity to 800,000 sq ft will further enhance its (the Arena Central Development) appeal making it the city centre’s largest consented, deliverable, office scheme, providing greater critical mass and even more flexibility of offer.” explained Martin Guest of CBRE to TheBusinessDesk.com.
Due to be located around a landscaped public square, the development has stated that it will seek to deliver a ΓÇ£world-class business locationΓÇ¥ to Birmingham by providing grade ΓÇÿAΓÇÖ office space that is both sustainable and in keeping with modern requirements across two or more buildings.
Indeed with global brands such as Microsoft already seeking to establish as sizable presence in the city, the delivery of schemes such as Arena Central could play an important role in BirminghamΓÇÖs ability to continue attracting large occupiers to its office space ΓÇô a very real requirement if the city is to establish itself as business location of world renown.
Part of the Big City Plan, the redevelopment of New Street Station and the planned arrival of high-speed rail to the city will also help to boost the credentials of the UKΓÇÖs second cityΓÇÖs office space ΓÇô with the presence of an established and well-connected international airport also supporting the infrastructure available to such businesses.