Tristan Capital Partners (Tristan) and Sterling Property Ventures (Sterling) have signed the first occupier at 103 Colmore Row, Birmingham.
Flexible workspace provider x+why has taken 31,500 sq ft on the first, second, third and part 18th floors. It will also manage the 3,000 sq ft 18th floor terrace – the highest outside London – which will be accessible to all occupiers of the building, as well as being available for private hire.
The deal is the first to be signed by x+why outside London, where it currently has three bases.
The company will offer self-contained office suites, meeting rooms, co-working space, event space, lounge areas and support services at 103 Colmore Row, on a pay-as-you-go basis and all bookable via the 103 bespoke building smart app.
In another first for both x+why and Birmingham, the company will be launching an exclusive members’ business club.
The Tristan Capital Partners’ EPISO 4 Fund and Sterling joint venture team has been keen to secure a flexible operator for the building, as a result of changing workspace requirements in the wake of the Covid-19 pandemic.
Paul Pritchard, director at Tristan, said: “Businesses are re-thinking their work patterns, with an element of working from home likely to be a permanent feature going forward. By dedicating two and a half floors of 103 Colmore Row to flex space our occupiers can calibrate their requirements within the building, according to their needs.
“We shortlisted a number of flex space operators, but x+why have broken the mould in this market. They are true disrupters and we are excited to set a new benchmark for office occupiers and to address the undersupply of flex space in Birmingham.”
James Howarth, managing director of Sterling, said: “x+why is an exciting fit for 103 Colmore Row. Their emphasis on sustainability – right through to vetting their supply chain – fits with our own green credentials, which includes renewable energy for the building’s electricity and heat and hot water from the District Energy Scheme, all allowing our occupiers to reduce their carbon footprint.
“It’s also a thrill to be able to offer the 18th floor terrace for private hire. With its 3,000 sq ft expanse and spectacular views it will be one of the most iconic event spaces in the country.”
Rupert Dean, CEO and co-founder of x+why, said: “Our ambition is to expand nationally, and we are really excited to be able to open in such a prestigious and green building. We were really impressed by the commitment of the team creating 103 Colmore Row and it was clear that we shared the same vision on ESG values and the future of work. Our focus will always be on building a community of like-minded, purpose-driven businesses through, amongst others, innovative and sustainable design, wellbeing programmes, inspiring events and partnerships.”
103 Colmore Row comprises 223,631 sq ft of BREEAM Excellent Grade A office space. The 26-storey building, at the heart of the city’s business district, boasts a two-storey top floor restaurant and ground floor café, both to be operated by D&D London.
Letting agents for the development are Colliers, Cushman & Wakefield and Knight Frank.
Tom Sleigh, head of flexible workspace consulting at Colliers, said: “The level of tenant experience on offer at 103 Colmore Row is something that is being talked about at major office locations around the globe. However, there is little evidence of it being delivered outside London, Hong Kong, Sydney and New York.
Richard Williams, head of Birmingham city centre office agency at Colliers, added: “103 Colmore Row is a truly tenant focused office scheme, with flex space, shared amenity – including spectacular outdoor space – and hospitality services, all accessed by a bespoke building smart app. Tristan and Sterling are setting new standards in the regional office market.”