Nurton Developments invests £2.5m in Birmingham

Nurton Developments invests £2.5m in Birmingham

Birmingham-based Nurton Developments is set to invest £2.5m in the modernisation of an office building at the heart of the city’s financial and professional services core.

The refurbishment of No. 4 Temple Row, set to reach completion in the autumn, will make 24,000 sq ft of office space.

The refurbishment work at No.4 Temple Row will see the façade of the building cleaned and repaired and the windows replaced throughout.

An enlarged reception area is being created, with two new hi-speed lifts being installed, amongst other modernisations.

Nurton bought No.4 Temple Row - known then as Aspect Court - in November. The deal, a joint venture with a private investor, was part of a £9m acquisition, which also included Wireless House in Warwick.

Rupert Young, development director at Nurton, said: “Whilst there are a number of large-scale schemes in the medium to long-term pipeline the supply of high quality space currently available is dwindling.”

“More schemes need to be geared towards the 2,500-5,000 sq ft occupier where a shortfall is looming.”

“2016 will be a year of refurbishments and we are convinced that the newly refurbished No.4 Temple Row will lead that charge.”

Theo Holmes, director at CBRE in Birmingham, a joint agent on No.4 Temple Row alongside JLL, said: “3,000 to 5,000 sq ft is definitely the hot spot in the market and this building ticks a lot of boxes in terms of size, location and the quality of the refurbishment.

“That’s probably why we are already seeing interest from potential occupiers.”

 

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