The 35,316 sq.metres (380,000sq.ft
.) One Stop Shopping Centre and
Retail Park at Perry Barr is being given a marketing boost by Savills
and Cushman Wakefield (C&W).
It is three miles from Birmingham City Centre and has blue chip occupiers
such as Asda, Marks & Spencer and Nike. It has been recently bought for £70
million by Europa Capital and Sovereign Centros.
Adam Lazenbury of Cushman & Wakefield said: “We plan to deliver a
shopping experience which meets the changing needs and requirements of
the centre’s catchment area. Significant changes are planned in the area.”
C&W, together with KWB, has also been active in promoting the Kings
Norton Business Centre bringing the total space let in the last year to 42%.
There is only a small amount of space now empty.
Commercial Property Register
February - April 2017www.compropregister.com
It is interesting how the arrival
of a catchphrase for a city or a
region can act as a catalyst for
change, in this case the widening
use of the Midlands Engine
For a number of years the
region has seen a steady increase
in confidence, it may be that this
coincided as Manchester was first
promoted as the centre of the
Whichever way you look at it,
the Midlands fulfils many of the
precepts of a dynamic economic
growth region to which has now
been added a new impetus from
Birmingham City Council.
A clear example of this is that the
council has appointed Original Group
to produce a feasibility study for
Birmingham to be the host for the
2026 Commonwealth Games.
Original is part of a consortium of
PwC Four Communications and
To this should be added the
council’s new 15 year plan for
homes and jobs. It plans 51,000
new homes and the infrastructure
to go with them.
Another telling aspect of the
confidence is that Knight Frank
estimates that 90% of the city
centre office development is
speculative. The agents said that
“the city is set on a journey of
transformation that is continuing to
attract developer and property
High quality refurbishments
are leading the way, such as IM
Properties at 55 Colmore Row.
Jamie Phillips of Knight Frank
commented: “Whether it be
high quality refurbishment or large
scale new build, the city clearly
has a schedule of development
which is aligned to appeal to
indigenous occupiers and
footloose inward investors.”
This has brought in investment,
notably the 30% of the total
over the past five years from
David Tonks of Cushman &
Wakefield said: “There is little doubt
that the city will maintain a strong
national profile as HS2, the mayoral
election and the impact of the
combined authority in the Midlands
become increasingly evident.”
Unlike most urban areas in the
UK, Birmingham can probably cope
with the conversion of older offices
into residential use. Hong Kong
investors have bought the
4,832 sq.metres (52,000sq.ft
Herbert House on Cornwall
Street through Cushman &
Wakefield and will use ADAPT
Real Estates for the mixed use
scheme with 77 flats and leisure
facilities on the ground floor.
While there is strong demand
for residential accommodation in
the centre of the city, there is also
a good inflow of new office
occupiers, such as Maber Architects
at Colmore Row.
The transformation of the site of
the former Silver Blades ice rink
in Birmingham’s Smithfield
area has moved on with the
construction of the £60 million
private rented sector (PRS) of
334 units by Rockspring.
The council plans to transform the
14 hectares area, now the Forum, with
300,000 sq.metres (3.22 millionsq.ft.
of leisure, retail, hotels and cultural
space as well as 2,000 homes and
public space. This includes a new
indoor retail market with a food hall.
The ambitious project will take
10 years to complete and cost an
estimated £500 million.
Councillor Ed Clancy said: “The Forum
is a significant development which
not only kick starts the development
of the Smithfield area, but also
delivers new homes to the city.”
Paul Hampton of Rockspring said:
“The scheme is in line with our strategic
focus on rapidly improving residential
sub markets within dynamic cities
that are expecting high levels of
urbanisation and growth.”
Siddall Jones, the independent
property consultancy based in
Birmingham’s Jewellery Quarter, have
started the new year with a flurry of
Acting on behalf of Tickety Boo
Properties, the company sold Azzurri
House in Aldridge for £1.46m to a
private investment company. The
property is let to Azzurri Communications
Limited until March 2020 at
£141,572 per annum.
Photo courtesy of Nick Parsons Photography
Siddall Jones, 56-60 Newhall Street was sold to an overseas
investor for £1.9m. The property which comprises thirteen one bed flats
and a ground floor coffee shop produces £103,000 per annum.