First office tenant at Chord’s St Paul’s Place

Property developer Chord has secured its first office tenant at 40 St Paul’s Square, in Birmingham’s Jewellery Quarter.

Construction and fit out business ISG, has taken 3,314 sq ft/307.87 sq m at the mixed-use scheme.

Chord launched 25,400 sq ft/2,360 sq m of office space at the St Paul’s Place development – the first new build office accommodation to be completed in Birmingham this year – in May. The commercial space, which offers the biggest floor plates in the Jewellery Quarter, is available on the ground and first floors and overlooks a central landscaped courtyard.

ISG has 27 offices worldwide and a turnover of more than £1billion.

From its Midlands’ office, the contractor delivers projects across the public and private sectors ranging in value from £100,000 – £40million, with schemes including the conversion of Shrewsbury Music Hall, the creation of the North Warwickshire and Hinckley College campus, as well as upgrading the CTC Kingshurst Academy and building a new Village Hotel, both in Solihull. The firm has had a presence in Birmingham for more than seven years but needed greater capacity to support its expansion plans. 

Regional managing director, Jonathan Kell, said: “We wanted to retain our Jewellery Quarter presence but needed a larger office, with a single floor plate in a more centralised location.

“The office space at St Paul’s Place is the best we have seen in the Jewellery Quarter: its modern, high quality specification will allow us to showcase our industry credentials.”

ISG has taken a ten-year lease at a rent of £17.50 per sq ft.

Savills and GBR Phoenix Beard are joint letting agents.

Nick Williams, head of office agency at Savills, said: “Achieving a letting so soon after launch is a significant endorsement of the quality of the product and location. The development undoubtedly provides a new level of offer within the locality, providing flexible Grade A accommodation within a landmark building fronting St Paul’s Square.”

40 St Paul’s Square boasts a full Grade A specification, including air conditioning and raised flooring. The commercial premises are accessed via a boutique hotel-style lobby, with marble and granite wall cladding. There is a concierge and 24-hour access. Underground parking is available on site, with a ratio of one space per 750 sq ft. Snowhill Station and the Jewellery Quarter metro station are also within easy walking distance.

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