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Edgbaston market picking up reports GSD
September '06
Birmingham-based agents, GSD, have completed a brace of deals in Edgbaston in as many months, suggesting an upturn in the demand for space in the area.
At Cobalt Square, acting on behalf of landlord, LaSalle Investment Management, for whom they acquired the building earlier this year, GSD has let 1,492 sq ft to sales recruitment specialist, Robson Taylor Selection, on a ten year lease at £14.50 per sq ft
Robson Taylor Selection join a wide range of occupiers at Cobalt Square including IT specialist, Rhyme Systems and international management consulting firm, PA Consulting, as well as Birmingham City Council and outdoor advertising specialists, The Maiden Group.
LaSalle has invested close to £1 million in the refurbishment of some 26,000 sq ft of office space at the 73,000 sq ft, 17-floor property, as well on external enhancements to the building, which will begin in the spring next year.
The remaining 23,900 sq ft is still available at a guideline rental of £14.50 per sq ft.
Joint agents are Jones Lang LaSalle.
The architect of both deals, Jamie Spires of GSD, says: "Companies are showing a marked up-turn in interest in the accommodation now available in Edgbaston. A dearth of City centre property has encouraged this trend and whether for relocations or incoming business to the City, the area offers a wide choice of high calibre space at rentals that represent real value for money."