On the 5th March 2008, north of England property company, Bruntwood exchanged contracts on The McLaren Building in Birmingham’s city centre. This purchase marks Bruntwood's second acquisition in the city after Cornwall Buildings, which they have owned and managed for over 12 years.
Comprising 115,000 sq.ft office space within the city’s Masshouse area, The McLaren Building is currently 50% occupied, with customers including Birmingham City Council, Scott Wilson and American Express. Now, privately owned Bruntwood plan to invest £7m redeveloping the building around these customers, creating 20 floors of high specification offices, with space to let from 1,500 sq.ft to 45,000 sq.ft.
Bruntwood’s Neal Biddle, commented; “Bruntwood are delighted with this purchase and are looking forward to completely transforming The McLaren Building. With experience of similar schemes in Manchester, Liverpool and Leeds, we’re confident that, under Bruntwood’s ownership, people’s perceptions of the building quickly change. We also hope our customer focussed approach will be well received in the city and we’re currently organising our on-site Bruntwood team who’ll be responsible for managing the building, as well as ensuring our customer’s occupation is as enjoyable as possible.”
During the acquisition, Bruntwood met with local developers such as McLean and Nikal to ensure The McLaren Building ties into the development of Birmingham’s 1.1m sq.ft Masshouse scheme, an approach they understand is critical to an individual building’s success.
Biddle comments further, “We’re working with our neighbours to ensure The McLaren Building compliments its environment and with works scheduled to start in April, we’ll be bringing new product to market by the Autumn. Alongside this, we’re keen to acquire more in the city, providing customers additional flexibility to grow within our portfolio and this long-term approach means we’re looking forward to playing a greater role in Birmingham’s property market.”
Bruntwood purchased The McLaren Building from Birmingham Alliance for an undisclosed amount, with Birmingham based Wragge & Co handling the legals on Bruntwood’s behalf.