50-54 St Pauls Square comprises 23 individual self-contained offices for sale in Birmingham, ranging in size from 380 sq ft to 1,775 sq ft, with the additional flexibility of also being able to combine office suites, together with The Rectory Bar & Restaurant. Bridges Ventures is currently in the process of refurbishing the vacant offices with the intention of offering them for sale on new 999-year ground leases.
50-54, which is located in the much sought after St Pauls Square area of Birmingham’s Jewellery Quarter, will provide a rare opportunity for owner occupiers or commercial property investors to acquire small, self-contained offices in Birmingham on a virtual freehold basis. The offices are set within an attractive, stylish, courtyard environment with the office space all on a single floor, which far better suits the operational needs of modern businesses.
With a reputation for regeneration, the ‘green’ agenda and sustainability, Bridges Ventures, who will be occupying one of the office suites themselves, is keen to encourage the growth of SMEs within Birmingham. 50-54 St Pauls Square has already attracted a diverse mix of businesses from PR and media design to quantity surveyors and professional services. Bridges Ventures will be looking to further grow the range of businesses and create a vibrant working environment and business community.
Nigel Tripp, partner at KWB office agents in Birmingham, said: “With interest rates at an all-time low, buying your own offices today can be cheaper than renting – and in return you have direct control over your property and an asset at the end of it. Whereas normally for this size of office space there is no alternative but to rent, now companies can invest so much more in their future.
“50-54 St Pauls Square offers a rare opportunity to buy small, purpose-built, high specification self-contained offices in Birmingham, which are ideal for SIPP purchase. Better still, units under £125,000 are stamp duty exempt and, as part of the Government initiative, there is also a willingness from Lloyds Bank to lend to SMEs for the purchase of these offices.”
KWB had long seen the opportunity that 50-54 St Pauls Square presented because of the way that the commercial property lent itself so perfectly to creating strata offices for sale in Birmingham, just like an apartment within a residential block. KWB acquired Elmbridge Court offices in Gloucestershire for Bridges Ventures last year. Following this purchase, KWB proactively sought out and introduced to Bridges the off-market opportunity that 50-54 St Pauls Square presented.