Rockspring and Sterling select bam for 103 Colmore Row
12th February 2018
The construction of Birmingham’s most anticipated new office development, 103 Colmore Row, has taken a major step forward.
Rockspring Property Investment Managers LLP (Rockspring) and Sterling Property Ventures (Sterling), the development team behind Birmingham’s tallest office tower, have selected BAM for the £80 million build contract.
The contractor begins site surveys today (12 February), alongside an intense period of pre-construction design. The main substructure works commence in early June, with completion of the 26-storey building set for Q3 2020.
103 Colmore Row will comprise 223,631 sq ft of office space over 20 floors, and 7,665 sq ft of restaurant space on the ground and top floors. At 346ft/105.5m high, with the apex 246m above sea level, it is the highest new office building under construction outside London.
Designed by architects Doone Silver Kerr, the landmark building features a winter garden, 18th floor terrace and multi-purpose lobby business lounges.
103 Colmore Row is Rockspring’s second development in Birmingham. The European property investment manager is also behind the city’s first purpose-built private rental scheme, The Forum, in Southside.
Michael Pryer, Partner and Fund Manager at Rockspring, said: “Birmingham is the UK’s most exciting regional city. The investment in transport infrastructure and its youthful demographics have made it a magnet for occupiers and inward investors.
“Our confidence in Birmingham is such that we are moving 103 Colmore Row forward. It is, without doubt, the city’s premier business address.”
103 Colmore Row is on the site of the former NatWest Tower. The original proposals to develop the former building, empty since 2003, were shelved during the global economic downturn.
Sterling acquired the site in November 2014 and, partnering with Rockspring, has worked the new scheme through the planning process, a 24-month phase demolishing the former NatWest Tower and preparation of the substructure, and the procurement of the new building.
James Howarth, managing director of Sterling Property Ventures, said: “It has been a long haul to get to this day but it is undoubtedly a proud one.
“103 Colmore Row will be a simply stunning addition to Birmingham’s skyline, reflecting the aspirations of the city.
“Our top floor bar and restaurant mean the doors of this building will be open not just to commercial occupiers. Anyone wishing to enjoy the fantastic panoramic views of the city and surrounding areas will be welcome inside.”
Sterling has opened an office at Alpha Tower and its team will manage the construction and lettings programme.
Waheed Nazir, Corporate Director Economy at Birmingham City Council, welcomed the start on site. He said: “The decision to select BAM and invest in 103 Colmore Row is a massive vote of confidence in Birmingham. The commitment to this major new building will bring high quality office space to the heart of an expanding central business district and shows that Birmingham continues to be a hugely attractive place to invest and do business.”
Rod Stiles, Regional Director for BAM Construction in the Midlands, said: “Our appointment to create 103 Colmore Row means that BAM is engaged on about one quarter of a billion pounds of commercial developments within half a mile of each other in Birmingham’s central business district. This is a testament to our credentials and our track record in the city.
“We’ve been working with our partners at Sterling and Rockspring already and are keen to start what will be a memorable addition to Birmingham’s real estate.”
The office space at 103 Colmore Row will be marketed by joint agents Cushman & Wakefield and Knight Frank. Average floorplates are 12,000 sq ft and will be BREEAM excellent rated.