Office Conversion
(Level 1)

Office Conversion
(Level 1)

  • Approved scheme¹ to add c.50,000 sq ft of office space through repositioning of retail (above prime car parking area)

  • Management agreement to be entered into with Spaces to capture robust Birmingham office market

  • Targeted increase in NOI from approximately £1 per sq ft to approximately £21.75 per sq ft on converted space

¹ Approved planning application number: 2020/01623/PA

Retail Repositioning
(Level 2)

Retail Repositioning
(Level 2)

  • More service-led complementary tenant mix to support office offering and anchor tenant Harvey Nichols

  • Concentrate footfall to a single repositioned floor of retail

  • Consolidate performing tenants, reduce gross to net leakage

Office Asset Management

Office Asset Management

  • Engage with key office tenant at forthcoming review to discuss a potential lease renewal to capture reversionary potential

  • Potential to let 8,765 sq ft of office space at market rental levels

  • Relocate the on-site management team to free up their current 3,391 sq ft office space for market rent

Property Management Review

Property Management Review

  • Comprehensive review of service charge budget to drive efficiencies

  • Reallocate total service charge to reduce shortfall

  • Review of marketing and PR budget

Leisure

Leisure

  • Increase ‘Grab & Go’ and service-led retail options to complement the office offering

  • Modernise the current restaurant line up

  • Create a more destination led social dining precinct leveraging the canal side location

Find out more about the Asset Manager