British Land plans Birmingham office development - commercial mortgages

22 May 2008

Those looking for commercial mortgages may be interested to read that a planning application to build a £160 million 35-storey office development has been submitted to Birmingham city council by British Land.

The proposed building - to be located on the corner of Colmore Row and Newhall Street - would include 285,000 square feet of office space, ground-floor retail space and a roof-top restaurant.

Robert Samuel, director of British Land, said that the existing building has been empty because it is "no longer commercially viable".

"We believe we have designed not only a landmark building but also one that will bring real and tangible benefits to Birmingham city centre and to its business community," he commented.

Mr Samuel added that the proposed development is set to offer energy savings of 30 per cent.

Recently, British Land chief executive Stephen Hester claimed that although the company posted losses in the last quarter, it "has never been in better shape to weather the downturn".