Lock 14, Aegon Asset Manage-ment’s newly refurbished office scheme, has been let. Arden University has taken the entire 19,738 sq. ft at the development on Summer Row, Birmingham.
The higher education establishment has agreed a 10-year term, supplementing its existing premises at Centre City, Hill Street.
Aegon Asset Management has invested £1.8m in a comprehensive refurbishment of the three buildings, which included significant structural alterations and a change of use – the buildings formerly housed bars Mechu and Après.
The new Grade A space includes feature exposed services and an array of period features, flexible meeting rooms, breakout spaces, kitchen, cycle storage, shower and changing facilities, plus a central courtyard and two roof terraces.
CBRE and Knight Frank advised Aegon on the deal.
Theo Holmes, a director in CBRE’s offices team, said: “This deal, which was agreed prior to practical completion and during varying degrees of lockdown, is testament to Aegon Asset Management’s foresight in repurposing these buildings and leveraging the development’s proximity to the Paradise scheme.”
James Andrew International (JAI) acted for Arden University, which offers foundation, masters, and MBA study programmes from study centres in London, Birmingham, Manchester, and Berlin.
JAI director Mark Kleinman said: “Lock 14 provides Arden University with a self-contained facility. Their presence, along with neighbouring Birmingham College of Food and BCU’s School of Jewellery, Fashion and Textiles, has added further weight to the burgeoning education quarter sandwiched between the city centre and the Jewellery Quarter.”