Arena Central's 240K Government Pre-Let Gets Dirty
Those spades look suspiciously clean, and the hi-vis is box fresh, but they will not stay that way for long because the construction of the 240K SF government-occupied office block at 3 Arena Central, Birmingham, has now begun.
The building has been pre-let on a 25-year lease to HM Government as part of its regional office consolidation. The development, part of the 9-acre Arena Central scheme, has been funded by Legal & General.
3 Arena Central will see more than 3,600 civil servants occupy a 14-storey building by 2020 from a number of departments including HM Revenue and Customs (HMRC) and the Department for Work and Pensions.
“Arena Central will be part of a network of government hubs, transforming central government’s offices by accommodating many different departments in shared buildings in cities across the U.K. The new Birmingham hub will be a catalyst for regeneration," Government Property Unit Programme Director Ann Carter-Gray said.
The site has outline consent for more than 1M SF of new office space, including 135K SF at 5 Centenary Square and 210K SF at 1 Centenary Square, the building selected by HSBC for the headquarters of its new ringfenced banking division.
CBRE and GVA are appointed as joint letting and investment agents to Arena Central.