Stoford Developments has reinforced its leading role in the regeneration of Birmingham city centre by launching a £1.85-million refurbishment of its historic former Stock Exchange building. pass4sure 140-420 The Birmingham-based developer has started work on upgrading the offices within the 1920s landmark property at 33 Great Charles Street for EFG Harris Allday one of the UK’s leading stockbrokers and investment managers. Stoford, last year’s winner of the Bank of Scotland Search for Property Entrepreneurs for the Midlands and East Anglia, bought the Stock Exchange building in 2006.
The 35,000-sq ft building, which is in a conservation zone, was in use continuously as a subsidiary of the London Stock Exchange until the Big Bang of 1987 resulted in its traditional dealing floor being replaced with new technology. Its six floors of offices including the dealing floor and a basement are being used as offices by EFG which will be entering into a new 15-year lease on improved terms when the refurbishment is complete in May 2010.
The major 38-week project will involve the stripping out of partitions to create more modern and open-plan style offices and the building of a mezzanine to form an upper ground floor. The work will also include replacing existing mechanical and electrical systems with more updated and energy efficient plant as well as re-configuring the central core toilets so that they work to maximum efficiency.
Alex Morgan, Stoford Project Manager, said: “The refurbishment will be carried out while EFG remains in occupation, with
its staff vacating two floors at a time and moving back when the work on those levels is complete.” He added: “We are delighted to be reinforcing our leading position at the forefront of Birmingham’s regeneration by turning such an historic building into outstanding office premises.” The Stock Exchange is the fifth historic office landmark in the city centre to be refurbished by Stoford following the Midland Bank Building in Bennetts Hill, Cavendish House in Waterloo Street, Griffin House at Ludgate Hill, and Lancaster House in Newhall Street.