Stoford Developments has completed the first phase of a £1.85 million refurbishment of Birmingham’s historic former Stock Exchange Building.
The award winning developer based almost opposite in Lancaster House, Great Charles Street, has completed the top two floors of the six storey building and is now re-developing the middle phase with a completion date for the whole scheme of April 2010.
Stoford, last year’s winner of the Bank of Scotland for Property Entrepreneurs for the Midlands and East Anglia, bought the 1920’s landmark Stock Exchange building in 2006, and is undertaking the work for EFG Harris Allday one of the UK’s leading stockbrokers and investment managers.
The 35,000-sq ft building, which is in a conservation area, 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.
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 is being 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, The Wellington public house at 37 Bennetts Hill, Cavendish House in Waterloo Street, Griffin House at Ludgate Hill, and Lancaster House in Newhall Street.