103 Colmore Row signs up first office tenant ahead of completion

A new development in Birmingham city centre has signed up its first office tenant ahead of work completing on the building later this year.

Flexible office space provider x+why has agreed to take 31,500 sq ft of space at 103 Colmore Row over four separate floors, including the 18th where it will also manage the 3,000 sq ft terrace which will be accessible to occupiers and available for private hire.

The deal is the first to be signed by x+why outside of London where it currently has three bases.

Its new operation in Birmingham will have self-contained office suites, meeting rooms, co-working and event space, lounge areas and support services on a pay-as-you-go basis as well as having a members’ business club.

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Co-founder and chief executive Rupert Dean said: “Our ambition is to expand nationally and we are really excited to be able to open in such a prestigious and green building.

“We were really impressed by the commitment of the team creating 103 Colmore Row and it was clear that we shared the same vision on environmental, social and corporate governance values and the future of work.

“Our focus will always be on building a community of like-minded, purpose-driven businesses through, among others, innovative and sustainable design, wellbeing programmes, inspiring events and partnerships.”

The company’s move into Birmingham comes as the city sees a rise in co-working providers opening facilities here including Spaces occupying the entire ground floor of the Mailbox and The Jointworks development in a former watch factory in the Jewellery Quarter.

103 Colmore Row comprises 223,631 sq ft of grade A office space across 26 storeys and will also have a two-storey sky bar and restaurant and ground floor café, both to be operated by D&D London.

Tristan Capital Partners and Sterling Property Ventures, the development team behind the project, said they were keen to secure a flexible operator as part of the tenant mix in the new building due to the changing face of office work brought on by the pandemic.

Paul Pritchard, director at Tristan Capital Partners, said: “Businesses are rethinking their work patterns, with an element of working from home likely to be a permanent feature going forward.

“We shortlisted a number of flex space operators but x+why have broken the mould in this market.

“They are true disruptors and we are excited to set a new benchmark for office occupiers and to address the undersupply of flex space in Birmingham.”

Letting agencies for the development are Colliers, Cushman & Wakefield and Knight Frank.

Business Live – West Midlands