A Government hub in the heart of Birmingham city centre continues to grow, as The Office of the Public Guardian has recently committed to taking 67,000sq ft on multiple floors in Victoria Square House an asset acquired by Ardstone Capital on behalf of the Ardstone Regional Office Fund, a programmatic joint venture with CBRE Investment Management.

Michael Cecil, Head of UK Asset Management at Ardstone Capital, said:

“This deal demonstrates the continued confidence that the Government has in Birmingham as a city and as a home for its major working divisions outside of London. Whenever space is available in Victoria Square House it seems to go very fast, perhaps, not surprising given the impressive location and unrivalled connectivity. The commitment from the Office of the Public Guardian highlights just how strong this proposition is.”

Real estate advisor Avison Young acted on behalf of the Landlord.

According to its latest Big Nine office market report - the city’s office market rallied in 2021, with transactions across the year totalling 656,735 sq ft. Birmingham’s activity is also expected to return to the five year average by the end of 2022.

George Jennings, Director at Avison Young, added:

“Birmingham’s office market performance was buoyed by Government activity throughout the covid-19 pandemic, accounting for around one third of transactions in the city between 2020 and 2021.

“Alongside this continued public sector activity, we’re seeing the city bounce back when it comes to private sector deals, so all things combined, 2022 looks to be a hugely positive year for Birmingham.”