The Birmingham City Council is investing in its future economic success with the £26.4 million purchase of an office block in the heart of its business quarter.
The city council has acquired 9 Colmore Row, a prominent ten-storey office building with 71,807 square feet of office and retail space and 64 parking spaces. Its current tenants include the Whitewall Galleries and corporate finance firm Clearwater International.
In a statement regarding the purchase, Councillor Ian Ward, leader of the city council, said that the 9 Colmore Row will be one of the cornerstones of the council’s regeneration project for the business quarter and Snow Hill.
The council has a two-pronged goal: First, to contribute to the continuing economic success of the Birmingham city centre and its prominence as one of the UK’s best office markets.
It is the perfect addition to the city council’s aim to provide better experience of Birmingham for the people who work in the business district and for visitors to come to the city centre.
Secondly, the acquisition will allow the city council to move forward with its regeneration of the area to create pace for more businesses to come in and open offices or relocate, support investments and job creation.
Want to know more about Birmingham’s regeneration projects and property investment hotspots? We’ve featured Eastside Birmingham, Digbeth, and HS2’s halo effect on regeneration projects in the city centre, to understand why the city is an exciting hotspot for property investors. We also previously featured Snow Hill Wharf, a luxury residential development which is a short walk away from Snow Hill Station, along Colmore Row. To learn more about Snow Hill Wharf and our other Birmingham property investments, book a chat with us today or call us on 02079236100.