Chord notches up biggest Jewellery Quarter Office let of 2010

 Chord Developments has secured the biggest office letting in Birmingham’s Jewellery Quarter this year.

Global insurance brokerage Willis Group Ltd has taken 10,000 sq ft/ 929 sq m on the ground floor on a ten-year lease, including 12 car parking spaces, at Chord Developments’ 40 St Paul’s Square. The company moves from 30 St Paul’s Square.

Will Monaghan, lease manager at Willis, said: “Willis has been established in the Jewellery Quarter for many years and we were keen to remain here. 40 St Paul’s Place fitted the bill as it is a landmark building in a convenient location and it offered the space we needed on one floor plate.”

The letting to Willis is Chord’s second following the launch of the commercial space in May this year – construction and fit-out business ISG took 3,314 sq ft/307.87 sq m last month. The development, part of the mixed-use St Paul’s Place scheme, comprises 25,400 sq ft/2,360 sq m of office space and 148 apartments. It offers the biggest floor plates in the Jewellery Quarter.

Savills and GBR Phoenix Beard are joint letting agents.

Nick Williams, head of office agency at Savills, said: “Chord has scored two significant lettings in a matter of months. It’s a ringing endorsement of the product and the location.

“40 St Paul’s Place offers a city centre-type specification, in a landmark building, but at two-thirds the rental costs of similar new Grade A stock.”

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.

BNP Paribas Real acted for Willis.

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