Savills to bring Great Charles Street estate buildings to market

Jonathan Ottewell and Adam Smith

Savills to bring Great Charles Street estate buildings to market

AG Dunedin has appointed the Birmingham offices team from Savills as joint letting agent for three of the buildings on its Great Charles Street estate in central Birmingham.

Savills has been appointed alongside existing agents GVA and LSH to market office space at the Crossway, Charles House and 154 Great Charles Street.

The buildings form part of a portfolio acquired by AG Dunedin, a joint venture between Angelo Gordon and Dunedin Property Asset Management, in 2015.

Gordon Kellie of Dunedin Property Asset Management said: “Over the last two years, we’ve seen the commercial property market in Birmingham continuing to go from strength to strength.

"Our appointment of Savills is in response to a competitive marketplace and our desire to capture the best possible leads from occupiers ideally suited to the spaces that we have to offer.

“Our approach to redevelopment has proven to be exceedingly successful over the last two years, with significant levels of interest received from occupiers in a number of markets.

"We are pleased to have Savills on board and look forward to working with them in securing occupiers in the future.”

Since acquiring the portfolio, AG Dunedin has undertaken a rolling programme of improvement works. Lombard House, which is almost fully let, and Charles House have both been fully refurbished with upgraded receptions, public areas and office suites.

The Crossway building – formerly Civic House – on the corner of Great Charles Street and Summer Row is currently entering the final stages of a significant redevelopment with work expected to be completed later in the year, while the refurbishment of 154 Great Charles Street is scheduled to complete by September 2017.

Jonathan Ottewell, associate director in the office agency team at Savills, said: “This is a crucial time in the Birmingham property market, with increasing interest from inward investors and native occupiers keen to take advantage of the wave of refurbishments currently underway across the city.

“The work that AG Dunedin is undertaking on Great Charles Street is truly unique and brings something different to the market, reviving office suites that are perfectly suited to modern occupiers seeking smaller, high quality office accommodation in the city centre, while retaining many of their original features.”

Great Charles Street Estate is a collection of six buildings situated on an island site in Birmingham city centre framed by Newhall Street, Lionel Street, Summer Row and fronting Great Charles Street Queensway, a main arterial route connecting the site to the A38 and national motorway network.

The estate also benefits significantly from its proximity to New Street and Snow Hill railway stations and situation adjacent to the Paradise development which will open new pedestrian routes to the city centre in summer 2017.

BQ’s commercial property updates are supported by specialist lender Together, which provides funding to businesses and property investors nationwide. With over forty years’ experience in the financial services industry, Together offers short-term finance, auction finance, buy-to-let, residential and commercial mortgages and secured loans.

For more information visit www.togethermoney.com