UKCM office letting at 9 Colmore Row Birmingham
UK Commercial Property REIT Limited
UKCM agrees office letting with Clarke Willmott at 9 Colmore Row, Birmingham
29 March 2021: UK Commercial Property REIT Limited ("UKCM" or the "Company") (FTSE 250, LSE: UKCM), which is managed and advised by Aberdeen Standard Investments* and owns a diversified portfolio of high quality income-producing UK commercial property, announces that it has agreed a 10 year lease for the 4,226 sq ft seventh floor at 9 Colmore Row in Birmingham with law firm, Clarke Wilmott. Clarke Wilmott is relocating from elsewhere in the city to 9 Colmore Row, which will become its national headquarters.
9 Colmore Row is a 10 storey office building with 69,000 sq ft of Grade A office and ancillary retail space, currently let to well-respected occupiers including Turley, Capital Dynamics, Brewin Dolphin, BNP Paribas and Smith & Williamson, three of which have renewed leases comprising over 18,000 sq ft in the last month. UKCM recently completed an upgrade programme at the property, which saw the reception area refurbished; the addition of a communal meeting room and breakout space; and the delivery of a dedicated cycling hub and health club quality changing facilities in the basement.
Only the 9,194 sq ft fifth floor remains available, which provides natural light-filled, open-plan working areas that offer flexibility for a bespoke layout. 9 Colmore Row is centrally positioned in Birmingham's active and vibrant business district, with ample shops and restaurants nearby, including four that are Michelin-starred, and is within walking distance of three railway stations.
Will Fulton, Lead Manager of UKCM at Aberdeen Standard Investments, said : "9 Colmore Row sits in the heart of Birmingham's impressive commercial hub and benefits from excellent transport links to and from the city. We have invested in the property over the last few years to ensure that we can maximise its potential and continue attracting the city's top businesses, including Clarke Wilmott, as we emerge from the pandemic and occupiers become more selective towards higher quality office environments."
UKCM was advised by JLL.
ENDS
For further information please contact:
Richard Sunderland / Claire Turvey / Emily Smart / Andrew Davis, FTI Consulting
Tel: 020 3727 1000
Email: UKCM@fticonsulting.com
Notes to Editors - UK Commercial Property REIT
UK Commercial Property REIT is a FTSE 250 Real Estate Investment Trust listed on the London Stock Exchange. It aims to provide shareholders with an attractive level of income together with the potential for capital and income growth from investing in and managing a £1.22 billion (as at 30 September 2020) diversified portfolio. The portfolio has a strong bias towards prime, institutional quality properties and is diversified by location and sector across the UK.
* The Company is managed and advised by Standard Life Investments (Corporate Funds) Limited (the Company's appointed AIFM). Will Fulton, a qualified Chartered Surveyor with 30 years of experience in the industry, has been Lead Manager since April 2015. Investors should refer to the Key Information Document prior to making an investment decision.
Further information on the Company's investment policies, the types of assets in which the Company may invest, the markets in which it invests, borrowing limits as well as details of its management, administration and depositary arrangements can be found in the Company's Annual Report and Investor Disclosure Document. The above documents are available on the Company's website www.UKCPREIT.com. Paper copies of these documents are available on request, free of charge, via the contact details outlined on the website.
Property is a relatively illiquid asset class, the valuation of which is a matter of opinion. There is no recognised market for property and there can be delays in realising the value of property assets. Investors should be aware that past performance is not a guide to future results. The value of investments, and the income from them, can go down as well as up, and an investor may get back less than the amount invested.
For further information on UK Commercial Property REIT, please visit www.UKCPREIT.com .
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