Colmore Gate to be "Recycled and Extended"
Colmore Gate is in line for a major new revamp.
The 18 storey, 172K SF block, was built in the 1990s, but with a new owner and a rethink in mind, additional floors could now take it up to 22.
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Israel-based Ashtrom Properties acquired the building from Aviva Investors UK, for a reported £39.5M, in September 2021.
At the time the building was 60% unoccupied with rents averaging at £24 per square foot with a capital value of just over £200 per square foot.
Ashtrom plans to reinvent the building to create a world leading workspace that meets and exceeds the needs of modern occupiers.
The plan is to “recycle and extend” rather than to replace, enabling the construction of a sustainable low/zero carbon structure.
Incorporating a new high-performance façade throughout, the existing seven storey along Bull Street will be extended by four floors and refurbished, offering enhanced office floorspace and a large attractive rooftop amenity space with tiered corner terraces.
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The main building will also be extended to its side, rear and peak, taking it up to 22 floors – a slight decrease from original plans.
All car parking spaces will be removed from the basement and all existing rooftop services moved down there, along with cycles, storage, showers and changing rooms.
At street level two new entrances will adorn Colmore Row and Bull Street. Within, Colmore Gate will offer new meeting rooms, co-working spaces, booths, a lounge and an auditorium.
The existing pedestrian thoroughfare will, rather controversially, be stopped up and rerouted around the building, whilst a commercial unit will be formed to the corner of Colmore Row and Bull Street.
A pre-application consultation is now underway ahead of a former planning submission. Website: www.colmoregate.com
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Colmore Gate, images from Ashtrom Properties, Buckley Gray Yeoman, Tony Hisgett & Daniel Sturley.
