Commercial Property News

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Tuesday, February 03, 2024

Thales Properties take space in Birmingham's Hill Street

Thales Properties has taken 7,500 sq ft/696sq m at Centre City, Hill Street, Birmingham.

The new tenant has acquired the last of the recently refurbished 11th floor suites.

Landlord Princeton has now completed further refurbishment to the 8th floor, including common areas, of the building. Works are planned to refurbish a further 30,000 sq ft of the 20 storey tower, which will be given a 1million facelift.

Thales has taken a five year lease at a rent of 16.50 per sq ft/177 per sq m. The firm has also acquired seven car parking spaces at 2,000 each.

Property consultancies CB Richard Ellis and GVA Grimley advised the landlord on the deal.

Jamie Spires, a surveyor in the office agency team at CBRE, said: "Princeton has reaped the rewards of its 3million investment programme at Centre City, achieving transactions of more than 115,000 sq ft in the last two years."

CB Richard Ellis has project managed the recent refurbishment programme on behalf of Princeton.