Wednesday, October 20, 2021
Real EstateUK

Arden University strikes deal in former pub building

Aegon Asset Management

Arden University has taken the entire office space at Lock 14 in Summer Row

A newly renovated former pubs building in Birmingham which has been turned into offices is now let after a lease deal was struck with a university.

Arden University has taken the entire 19,738 sq ft of available office space at Lock 14 in Summer Row.

The higher education establishment has agreed a ten-year term, supplementing its existing premises in Hill Street.

Landlord Aegon Asset Management has invested £1.8 million in a refurbishment of the three adjoining buildings which included significant structural alterations and a change of use.

Aegon is an Edinburgh based financial services provider specialising in pensions, investments and insurance. Its products are available through financial advisers or in the case of workplace pensions, made available via an employer. It offers a range of pensions, individual savings accounts (ISAs), life insurance and investment products for individual customers.

They were previously home to bars Mechu and Texan Roadhouse Sports Bar and Grill which closed a few years ago.

Property consultancies 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 acted for Arden University.

Director Mark Kleinman added: Lock 14 provides Arden University with a self-contained facility.

He said: 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.


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