The US owned company Jacobs Engineering has signed a 10-year lease on 20,000 sq ft at Nurton Developments’ Two Colmore Square, in the first of a wave of deals expected from companies looking to locate themselves close to the new HS2 Construction headquarters in Birmingham city centre.
Rupert Young, development director at Nurton said. “The Jacob’s letting sends a strong message to the marketplace that HS2 is a reality and the potential for the city centre office market is substantial.’
Birmingham office agents are now expecting this letting to spark further deals from suppliers keen not to miss out on the dwindling supply of Grade A stock near to Two Snowhill, which will house the 1500 jobs being created by HS2’s Construction.”
Charlie Toogood from GVA, joint letting agents with CBRE at Nurton’s Two Colmore Square commented: “This scheme has always been a consistent performer and clearly its accessibility to Two Snowhill is a big draw. It is also now a part of Birmingham’s £600 million masterplan to turn Snow Hill and Colmore Row into “Birmingham’s Canary Wharf” over the next 20 years, creating the UK’s largest hub of professional and financial services firms outside London.
“As more companies demonstrate their commitment to the HS2 project and Birmingham’s future, we expect further interest from developers and investors keen to create more office space to house the 1000’s of new jobs it is anticipated will be created in the city.”
Nurton Developments has owned Two Colmore Square since 2004, extensively refurbishing it together with the adjoining Cannon House in two main phases, costing over £10 million and comprising a total of 300,000 sq ft of office and retail space.