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Birmingham tower set for major refurb

Posted by Marianne
March 12, 2014 in Property Development

One of the most noticeable office buildings in Birmingham is set to undergo a massive office fit out, after being the subject of a £14m takeover deal.

The purchase of the 196,000 square foot tower comes just six years after the building was bought by Nationwide for £42.5m. This makes it a huge loss for the original deed holders.

The new owners of Alpha Tower, which enjoys a city centre position, aim to regenerate the building with a £9m investment. Located near to two major developments in the city, and within spitting distance of the new library, Anglo Scandinavian Estates Group (ASEG) is confident in the success of its plans.

With ASEG set to work on the refreshing of the building in a matter of weeks, the plan is to return the former TV studios and mixed use development to its former glory. Tom Gaynor of Commercial Estates Group, who advised ASEG on the deal, said:

“Alpha Tower is the most prominent office building in Birmingham city centre with its position and elevation making it a true landmark visible from across the city.

“Our proposals extend far beyond simply tidying up and adding a fresh coat of paint. Our objective is to give new life to Alpha Tower, creating an environment that will attract image conscious occupiers seeking cost effective space.”

The first new offices in Alpha Tower are likely to be refurbished through the summer of this year. A phased process of release is set to take place.

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