Colmore Row's Crazy Covid Recovery
Nobody in their right mind would choose to let a 224K SF new-build office building in Birmingham during a pandemic. Nobody in their right mind would predict it would be 60% let by the time of practical completion.
Yet the latest letting at 103 Colmore Row, Birmingham, proves both views to be mistaken.
Law firm Shoosmiths has taken 33K SF of hybrid workspace at the 26-storey tower for the 11th, 12th and 20th floors after agreeing a 15-year lease with Sterling Property Ventures and Tristan Capital Partners’ EPISO 4 fund.
The deal comes as 103 Colmore Row has now also reached practical completion, with tenants set to move in over the coming months.
The latest deal follows a steady stream of lettings during pandemic-blighted 2021, including business advisory firm Grant Thornton, wealth management and financial adviser Tilney Smith & Williamson and flexible workspace operator x+why.
“The exceptionally strong level of interest in 103 Colmore Row proves that a flight-to-quality is well underway in Birmingham,” Sterling Property Ventures Managing Director James Howarth said. “Since the outbreak of Covid-19, businesses are continuing to take stock of their workplace arrangements and are increasingly looking to grade-A schemes like 103 Colmore Row to help them better compete in an intensifying war for talent."
“The leasing success we’ve achieved, despite the challenges impacting the office market as a result of the pandemic, is testament to the quality of the workspace being provided at 103 Colmore Row,” Tristan Capital Partners Director Paul Prichard said.